Gold futures stand at Rs 700, silver plummets

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(Commerce Rep) Mumbai, Ta. 31 March 2020, Tuesday

Prices of gold plummeted in the gold and silver market today. When the decline in silver was ahead. World market news showed a decline in the sale of funds amid rising prices in precious metals. Funds were easing as the gold index rebounded in the global market. Meanwhile, the price of 10 grams of gold without GST in Mumbai market fell by Rs 43,700 to 99.50 and closed at Rs 43,000 today.

99.90, while it was down by Rs 43,876 to close at Rs 43,173. In the Mumbai market today, silver prices closed at Rs 39,500 with a GST of Rs. Gold prices in GST were three per cent higher than this one. Silver fell to $ 14 an ounce.

Platinum was down $ 721. However, palladium's rebounding prices today hit the $ 2300 level, hitting $ 2,314 an ounce.

The dollar closed five paise higher at 75.67 heading today in the Mumbai currency market. The British pound fell 24 paise to Rs 93.53 and the euro dropped 77 paise to Rs 82.78.

Brent prices jumped $ 23.40 per barrel and $ 21 per barrel of crude oil to $ 21.20 a barrel late on Wednesday, with crude oil prices rising three to five percent over the 18-year low. Goldman Sachs predicted that gold could rise again in the face of global warming, given that US GDP-economic growth is expected to decline by 35 percent and unemployment increases.

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