Mumbai: Gold and silver prices rose in Mumbai’s jewelery market today. The bullish phase in the jewelery markets of the country continued even today due to increase in the import cost of imported precious metals in the country due to the rise in the global market and fall in the exchange rate of rupee against the dollar in the domestic currency market. Today in the jewelery market of Ahmedabad, the price of gold increased by Rs 400 per 10 grams from Rs 99.50 to Rs 80300 and from Rs 80500 to Rs 99.90.
Whereas in Ahmedabad, the price of silver increased by Rs 500 per kg to reach Rs 91000. Meanwhile, funds continued their active buying in global gold today as crude oil rose 3 per cent in global markets. Globally, gold prices were quoted between $2672 to $2673 an ounce, $2683 to $2684 and $2679 to $2680 an ounce.
Globally, silver prices ranged from $30.35 to $30.08 and from $30.44 to $30.32 to $30.33. Platinum prices were as high as $962 to $963 an ounce, up from $968. Palladium prices were higher at $950 to $951 from $954. Global copper prices rose 0.52 percent today.
Meanwhile, crude oil prices rose by a surprising 3 percent in the global market today. The price of Brent crude was around $79.75 to $79.36 per barrel, around $80. While the price of American crude was at a height of $76.70 to $76.37. There were signs that demand for heating options increased as the cold grew in the US and Europe.
Experts were also predicting a decrease in the supply of oil from Iran and Russia in the world market due to America imposing more sanctions on Iran and Russia. Crude prices crossed the 200-day moving average today. The premium for the first month also increased. An increase in prices was seen for the last 3 weeks. It was expected that CT Group would raise the price estimate further in the future.
Meanwhile, with British Petroleum’s technical assistance to ONGC at Mumbai-High near Mumbai in India, informants were showing an increase of about 44 percent in crude oil production and about 89 percent increase in gas production at Mumbai-High.
Meanwhile, gold prices without GST rose from Rs 99.50 to Rs 77706 and from 99.90 to Rs 78018 in Mumbai bullion market today. Whereas in Mumbai the price of silver without GST became Rs 90268. Gold and silver prices in Mumbai were 3 percent more than this price including GST.
