Tuesday , July 23 2024

Increase in gold and silver: Crude crosses $ 83

Mumbai: The bullion market of Mumbai remained officially closed today as it was Saturday. However, gold and silver prices continued to improve in the closed market. There was a surge in world market news overnight. New sales in the domestic jewelery markets remained slow and sluggish today compared to the world market.

The price of gold in the world market increased from 2007 to 2008 and from 2015 to 2016. Finally, there were signs that the price remained the same from 2013 to the end of 2014. With US retail sales data coming in weaker than expected and global crude oil prices hitting new highs this year, news from overseas came that funds have bought global gold.

Meanwhile, trailing the global market, gold prices in Ahmedabad jewelery market rose by Rs 100 per 10 gram to Rs 63,800 per 10 gram and Rs 99.90 per kg to Rs 64,000, while silver prices in Ahmedabad rose by Rs 005 per kg to Rs 64,000. Rs per 10 grams. .7,2005. In the global market, the price of silver increased from 22.98 to 22.99 to 23.50 to 23.51 per ounce and finally the price went from 23.42 to 23.43 dollars.

Crude oil prices continue to rise in the world market. Due to increasing tension in the Middle East and renewed tension between Israel-Hamas-Hezbollah, its positive effect was seen on the prices of crude oil.

In the global market, Brent crude rose as high as 82.21 to end at $83.66 a barrel before closing at $83.47, while US crude rose from 77.53 to a high of 79.35 to end at $79.19. There was news that Russia is moving ahead in Ukraine war and Russia has captured more area of ​​Ukraine and it is also affecting the crude oil market.

At the end of the week, global copper prices were seeing a jump of 2.14 percent. Global platinum prices rose from $895 to $896 an ounce, from $911 to $912 an ounce and finally from $909 to $910. Palladium prices ranged from $968 to $969, $951 to $952 with a high of $946 to $947.

Meanwhile, in Mumbai bullion market today, gold prices without GST stood at Rs 99.50, Rs 61,650, Rs 61,496 and Rs 99.90, at Rs 61,900, at Rs 61,743. Mumbai silver prices without GST ranged from Rs 70922 to Rs 71600. Gold and silver prices in Mumbai were three percent more than this price including GST.