Gold and silver improve behind the world market

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(By commercial representative) Mumbai, Ta. 18 July 2020, Saturday

At the weekend, gold and silver prices closed higher in the global market, while private markets in the Mumbai market saw an improvement in prices on Saturday. Funds are investing in gold in the global market due to the increasing cases of coronavirus. Looking to sell in dollars. Crude oil also saw gains over the weekend.

In the Mumbai market, the GST-free price of 10.50 per ten grams of gold, which closed at Rs 4 yesterday, was trading at Rs 3,110 in private today. Gold was trading at Rs 50 with a price of Rs 715. Prices were quoted three per cent higher with GST. Silver. The price of one kg excluding GST was Rs. Prices were quoted three per cent higher with GST.

With gold demand weak in China, gold prices were trading at a discount of ૨૫ 6 to કરતા 8 per ounce above the base price. In India, Japan and Singapore, a premium of one and a half to two dollars is being offered for goods.

World gold was trading at ૮ 1,210 an ounce at the end of the week, while silver was trading at ૯ 16.5 an ounce, up 12.5. Platinum rose by ૮૨૮ 8 to ૮૪ 70, while palladium rose from ૮ 2,008 an ounce to ૨ 2,050.

As corona cases are on the rise again in many countries around the world, fundraisers are selling dollars and investing in Safe Haven Gold.

At the close of trading on Saturday, the dollar index was trading at Rs 6.5, up from Rs 2.08 in the previous session.

Crude oil prices closed higher over the weekend on the back of rising supply since August. New York crude was at ૬ 70.50 a barrel, while Brent crude was at 4.15. The global economy is not yet as strong as it should be. US GDP figures have also weakened.

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