Mumbai: After absorbing the shock, the prices of gold and silver increased again in the jewelery market of Mumbai today. News of boom in the world market, rise in domestic import cost again witnessed the rise. Due to the boom in the world market, less sellers and more buyers were seen in the jewelery market today.
As soon as the dollar index fell in the world market, there was news of re-entry of funds shorting gold globally. Globally, gold prices increased from 2668 to 2669 to 2690 to 2685 to 2686 dollars an ounce. Meanwhile, in Mumbai bullion market today, gold prices without GST stood at Rs 78,110 at Rs 99.50 per 10 gram as against Rs 77,716.
Whereas the price of 99.90 silver stood at Rs 78424 at Rs 78028 and the price of Mumbai silver stood at Rs 88730 at Rs 89550 per kg without GST. Behind gold in the global market, the price of silver today increased from 29.74 to 29.75 to 30.15 to 29.99 to 30.00 dollars.
In the world market, platinum prices remained in the lower range of 952 to 953, ranging from 936 to 943 to 944 dollars. Palladium prices were trading at $961 to $960 an ounce after hitting a low of $937 an ounce, rising from $946 to $947. Global copper prices rose 0.29 percent today.
Meanwhile, crude oil prices continued to fall in the world market. Brent crude prices were down by $80.74 per barrel from $79.62 to $80.06. While the price of US dollar increased from 78.64 to 77.24 dollars.
According to the Petroleum Institute of America, crude oil reserves are expected to decrease by 35 lakh barrels. On the contrary, the stock has reduced by 26 lakh barrels. However, there was news that the stock of gasoline has increased by 54 lakh barrels. According to the International Energy Agency, the global crude oil surplus is likely to remain small this year. There was news that Indonesia is considering importing oil from Russia.
