Gold - Reduction in tariff value of silver

(Gujarat News Office) Mumbai, Ta. November 16, 2019, Saturday

The bullion market was officially closed on Saturday in the Mumbai jewelery market today. However, prices closed higher after gold and silver shrank on closed markets, market sources said. The world market news was shining with declining prices. In the domestic currency market, however, today, the closed market received directives for the dollar to go down against the rupee.

With the dollar index falling lower in the world market, gold-funded funds have re-entered the market. In the global market, gold prices reached $ 8.5 per share for the week.

In the global market, gold prices were also up by $ 1.8 to $ 1.8 per week on the back of gold. In the backdrop of the global market, the domestic market was again talking loudly in the jewelery market.

Meanwhile, in the closed currency market today, the dollar was trading against the rupee at Rs.

In the Mumbai market today, the price of gold was Rs. 5 per gram without the GST of 5 grams, while the price of Rs 5 was Rs.

Meanwhile, silver prices in the Mumbai market today were trading at Rs 5 to Rs 5 per kg without a GST of 5 kg while cash in cash remained high at Rs 5 while the price with GST was three per cent higher. In the world market, platinum prices were $ 8.25 a week and palladium prices were $ 1.8 to $ 1.8.

World market players were watching how trade talks between China and the United States now proceed. Jobless claims in the United States were unemployment claims rose by 8,000 to 5 million. With such claims rising to a new high of five months, the dollar was under pressure in the world market and in the wake of the rise in gold prices, the talk of rising prices was being heard in the market today.

The impact of rising crude oil prices on the world market was also reported to be positive on gold prices. Brent crude prices were up $ 5 per barrel to $ 1.8 a barrel, while New York prices were up $ 8 to $ 8. New York Copper futures were up 5.5% to 8.5%.

According to news from China, the central bank has put more cash in place to increase liquidity in the money system and the government has launched efforts to boost the economy there. Retail sales figures have been good there too. This has had an impact on crude and copper prices. Meanwhile, there have been reports that the government has reduced the tariff value used as a benchmark for importing gold and silver imports into India. Such tariff value has been reduced to 5 grams by 5 grams for gold while silver has been reported to be reduced by 5 to 5 dollars per kilogram.