Gold, gold price hike: Palladium booms

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(Gujarat News Office) Mumbai, Ta. January 17, 2020, Friday

The weakening of the rupee against the dollar resulted in the price correction in the local gold exchange market. The rise in the landing cost of the dollar raised the price of gold. Silver was also gaining traction behind gold.

On the other hand, other precious metals such as palladium and platinum are also witnessing a boom. China and the United States are getting closer to a trade war, and there is hope for an improvement in the 5th position, which has led to higher crude prices.

In the local gold market, the price of gold, which remained unchanged at Rs 5 yesterday, rose by four to six. The price of gold rose by Rs 5 to Rs 5 today. With GST, prices were up three per cent higher. Silver was even higher behind gold. The silver was closed at Rs 5 to Rs 5 per kg.

Modisanjhee privately used to hear rupees 1 to rupees 3. The price of one ounce of gold overseas was hitting a low of $ 1.8 and higher at $ 5. Silver was seen hitting between $ 2.5 and $ 8 per ounce.

In the currency market, the dollar closed at Rs 5 and closed at Rs 5.2. The dollar was up 4 paise compared to yesterday. The pound was down 5 paise to $ 1.8 while the euro was down 5 paise to close the rupee. Retail sales figures in the UK have weakened in the world market due to weakening of the pound. Given this fact, interest rates are expected to fall in Britain.

Industrial demand continued to rise amid rising supply demand in palladium. The price of an ounce of palladium crossed $ 5 and was called $ 5. Other precious metals were also trading at $ 5 an ounce in platinum. Crude oil is expected to improve in the current year with US-China trade deals. Brent crude crossed $ 5 a barrel late in the evening, reaching $ 8.25, while Naimx was crossing $ 5 and calling $ 1.8.

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