look news india
Mumbai: In the jewelery market of Mumbai today, on the occasion of Diwali, the prices of gold and silver are falling at a record pace. Selling of funds was seen increasing in world market news. As the world market declined, domestic import costs came down and jewelery markets across the country witnessed a decline in prices today ahead of Diwali. Meanwhile, in the global market, gold prices rose to $2773-2777-2778 an ounce from today's low of $2781-2782 an ounce.
Domestically, gold prices fell by Rs 100 per 10 gram to Rs 82,200 from Rs 99.50 in the Ahmedabad jewelery market today, while Ahmedabad silver prices fell by Rs 1,000 to Rs 98,000 per kg. In the global market, behind gold, silver prices ranged from $33.42 to $33.48 to $33.49 in the lower range of $34.12 to $34.13 an ounce. The market was eyeing further stimulus from China.
Meanwhile, there were indications in the world market that global gold bullion prices were falling due to strengthening of the dollar index and rise in bond yields. However, with global crude oil rising again, there was talk that reactionary price losses in global gold were limited. In the world market, the price of Brent crude oil increased from 72.37 to 73.08 to 73.00 dollars per barrel.
The price of US crude increased from 68.85 to 79.23 to 69.10 dollars per barrel. According to world market news, there were indications that the plan made by OPEC to increase daily production by 1 lakh 80 thousand barrels from December will be postponed for the time being.
Apart from this, the crude oil reserves in America have decreased and there were reports that the government is considering buying about 3 million barrels of crude oil to increase the strategic reserve. Due to this the prices of crude oil increased. Meanwhile, at the Mumbai bullion market, gold prices fell by Rs 99.50 to Rs 79,235 and by Rs 99.90 to Rs 79,557 without GST. Mumbai silver prices fell to Rs 96670 excluding GST. Gold and silver prices in Mumbai were 3 percent more than this price including GST.
Meanwhile, copper prices fell 0.16 per cent today in the global market, while platinum fell to $1,028-1,029 an ounce from $1,011 to $1,003-1,044 an ounce. Palladium prices ranged from $1166 to 1167 lows at $1123 to $1124.