Mumbai: Gold and silver prices rose in Mumbai jewelery market today. The news from the world market was encouraging. It was reported that gold prices in the world market were in the range of 2626 to 2628, 2624 to 2625 dollars and the highest range was 2611 to 2612 per ounce. Small funds were active buyers in global gold.
Meanwhile, due to further decline in the rupee against the rupee in the domestic currency market, its impact was also seen positively on the jewelery markets of the country. In the jewelery market in Ahmedabad today, gold prices rose by Rs 500 per 10 gram to Rs 99.50 and gold prices rose to Rs 79,200 from Rs 99.90 per 10 gram.
Whereas the price of silver in Ahmedabad was Rs 86500 per kg. In the global market, the price of silver ranged from 28.92 to 28.93, with a low of 28.77 and a high of 29.03, 28.90 to 28.91 dollars an ounce.
Meanwhile, gold prices in Mumbai bullion market today stood at Rs 76276, Rs 99.50 at Rs 75857 and Rs 99.90 at Rs 76583, while silver prices in Mumbai stood at Rs 85900, Rs 86055 at Rs 86017. Crude oil in the world market, which was living at Rs 86017 without GST, increased to close to $ 75 per barrel, its effect was also seen positive on the global gold price.
In the world market, Brent crude prices ranged from a high of $74.52 to a high of $74.89 to $74.64. U.S. crude prices ranged from $71.56 to a high of $72.02 to $71.72. The market’s eyes were on the Malnari meeting of OPEC. China’s manufacturing sector figures were good. However, global copper prices have fallen by 1.62 percent today.
Meanwhile, market insiders said the government has reduced the tariff value used as the benchmark for calculating import duty on gold and silver imported into India and this has led to a reduction in effective import duty. . In dollar terms, the tariff value of gold has declined to $840 from $864 per 10 grams, while silver has declined to $959 per 1036 grams. In the world market, the price of platinum fell from 907 to 908 dollars while the price of palladium increased from 912 to 913 dollars.
