Mumbai: Gold and silver prices rose in Mumbai jewelery market today. World market news was encouraging as domestic import costs also increased along with growth in the world market. In the world market today, the price of gold was in the range of 2352 to 2353, 2347 to 2348 dollars, the highest range was 2327 to 2328 per ounce. GDP data in America remained weak, but there was news of increase in inflation. Unemployment claims decreased.
Buying of gold by funds increased in the global market today. Meanwhile, at the global market, gold prices rose by Rs 200 to Rs 99.90 from Rs 99.50 and Rs 74,700 to Rs 99.90 in the Ahmedabad jewelery market. Whereas in Ahmedabad, silver prices increased by Rs 500 per kg to Rs 81500. In the global market today, behind gold, silver prices ranged from 27.52 to 27.53 to 27.73 to 27.59 to 27.60 dollars an ounce. There was a strong rise in the prices of crude oil in the world market today and this had an impact on the rise in global gold prices as well. Crude oil reserves in America were pointing towards decline. In the world market, the price of Brent crude increased from 89.83 to 89.57 dollars per barrel, while the price of American crude increased from 84.46 to 84.19 dollars.
Global platinum prices rose to $915-916 an ounce from 904 to 927, while palladium fell to $965-966 an ounce from 993. There are indications that the difference between the prices of platinum and palladium is reducing. Global copper prices were 1.53 percent higher today. Meanwhile, in Mumbai bullion market today, gold prices without GST stood at Rs 72158, Rs 71805 at Rs 99.50 and Rs 72448 at Rs 72094 at Rs 99.90. Mumbai silver prices rose from Rs 80,898 to Rs 81,456 to Rs 81,374 without GST. Gold and silver prices in Mumbai were 3 percent more than this price including GST. As copper prices rose in the world market, its positive impact was seen on global silver prices.
