The dollar rose to 76 rupees

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(By commercial representative) Mumbai, Ta. 15 June 2020, Monday

Behind the global market, the domestic gold and silver market saw a decline, however, the dollar's appreciation against the rupee was limited. Lockdowns around the world are easing and people are getting used to living with coronavirus, which is easing the atmosphere of global uncertainty.

In the domestic market, gold at Rs 9.50 per 10 grams, excluding GST, which was Rs 3,100 last weekend, fell to Rs 4 today. The price of 10 grams of gold, excluding GST, was Rs 305 and closed at Rs 305 today. Prices were quoted three per cent higher with GST.

Silver. The price of a kilogram excluding GST, which was Rs 200 at the end of the week, has come down to Rs 200 today and finally closed at Rs 215. Prices with GST were quoted three per cent higher.

Precious metal prices in the world market fell while the dollar index rose. Gold, which had been trading at ૭૩ 120.15 an ounce over the weekend, fell to ૭ 1,215 an ounce in late evening trade, while silver was trading at ૭ 16.10 an ounce, down ૭ 19.50 an ounce. Platinum was trading at ૮ 215.50 an ounce, while palladium was trading at ૯૩ 16.50 an ounce. Analysts do not see gold falling below 1,305.

In the domestic currency market, the dollar rose to a high of Rs 2.15 and finally recovered by 15 paise to close at Rs 2.09. The rupee fell as equity markets collapsed. The pound was down 3 paise at Rs 2.8 and the euro was down 3 paise at Rs 4.5.

Crude oil saw a modest decline. Nymex crude was trading at ૫ 2.50 a barrel, while Brent crude was trading at 4.5. Crude is softening in the wake of the proposed economic downturn.


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