Mumbai: Due to Guru Nanak Jayanti, the jewelery market of Mumbai remained closed today due to bank holiday. However, there are indications that gold and silver prices in both the markets have increased faster than the world market. There was news that the price of gold in the world market increased from 2554 to 2555 dollars per ounce and from 2573 to 2572 dollars.
The country’s jewelery markets witnessed a rise today due to increase in domestic import costs behind the global market. Today in the jewelery market of Ahmedabad, the price of gold increased by Rs 300 per 10 grams from Rs 99.50 to Rs 76600 and from Rs 76800 to Rs 99.090. Ahmedabad Silver prices increased by Rs 2000 per kg to reach Rs 90 thousand. It is reported that behind gold in the global market, silver prices also increased from 30.10 to 30.11 dollars to 30.78 to 30.79 to 30.77 dollars per ounce.
There were signs of increased fund buying in global gold today as the global dollar index fell against various major currencies in the world market. The global dollar index fell to 106.42 from a low of 106.67. In Mumbai bullion market today, gold prices rose from Rs 73,444 to Rs 73,900 at 99.50 and from Rs 73,739 to Rs 74,200 at 99.90. Mumbai silver price rose by Rs 87,103 to Rs 88,900 without GST.
Meanwhile, platinum prices in the world market ranged from $934 to $935 to $953 to $950 to $951 an ounce. Palladium prices ranged from $930 to $931, up from $968 to $966 to $967.
Meanwhile, news came that the government has reduced the tariff value used as the benchmark for calculating import duty on gold and silver imported into the country. As a result, the informants were saying that the effective import duty has reduced.
Such tariff price of gold has come down from 891 per 10 grams to 837 dollars in dollar terms. When the tariff price of silver was increased from $1109 to $1005 per kilogram, the news was received from Delhi.
