Crude oil prices down to 18-year low in global markets: gold bullion

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Mumbai, Mar 30, 2020, Monday

Silver prices were pressing in the domestic spot on the back of precious metal gold prices in the world market, while prices in gold closed moderately high. The rupee had depreciated against the dollar and gold continued to rise. Silver, however, saw a softer trend due to lack of demand. Quad oil prices, on the other hand, were at an 18-year low.

As the world is in full swing of coronaviruses, the precious metal gold and gold trade has not seen much enthusiasm and volatile trade is taking place. Due to the lockdown in the locality, trade is not working but benchmark prices are being announced. At the local jewelery market, the price of gold 99.50 which was Rs. 99.90 Gold price was Rs 43750 with the day being Rs 43876. The low was seen at Rs 43298. The rupee was closed at Rs 3,500 today, with a loss of Rs.

Gold in the world market, which closed at $ 1628 an ounce last week, was trading at $ 1612 late this evening while $ 14.47 an ounce was traded at $ 13.95. The price of precious metal palladium was $ 2243 per ounce while platinum was calling around $ 722.

The rupee had softened against global currencies today. The dollar was up 76 paise to 75.62 against the dollar while the rupee rose 232 paise to 93.78 and the euro 111 paise to end at Rs 83.56. The price of Nimex cod went down to $ 20 a barrel in Cudd Oil and was called $ 19.98 per barrel while Brent was down $ 23.80, while Brent prices were seen at intraday levels of 2002. Cod oil prices are under pressure due to the impasse between Russia and the OPEC countries and the impact on demand caused by the coronavirus.

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