In Ahmedabad, silver is worth Rs. 53500: Dollar weakens against rupee

(By commercial representative) Mumbai, Ta. 15 July 2020, Wednesday

Gold and silver rallied in the domestic market behind the world market. Silver has seen a sharp rise compared to gold. Silver jumped by Rs 1,000 to Rs 2,000 in the Ahmedabad market on fresh buying. The dollar weakened while crude oil rose.

At home, the GST-free price of 10.50 grams of gold in the Mumbai market, which had closed at Rs 50 yesterday, rose to Rs 319 from Rs 315. Gold rose from Rs 4,115 to Rs 5 and finally closed at Rs 50. Prices were quoted three per cent higher with GST. Silver. The price of a kilogram, which had closed at Rs 315 excluding GST yesterday, jumped to Rs 501 and closed at Rs 315. Prices with GST were quoted three per cent higher.

In the Ahmedabad market, silver rose by Rs 1,000 to Rs 500 per kg from yesterday's close. Gold was trading at Rs 30,700 per ten grams at Rs 3.30 while it was closing at Rs 30,600 per ounce.

Rising prices in the world market have led to an increase in domestic import costs. Globally, gold again crossed ૮ 1,300 an ounce and traded at ૮ 1,305 late in the evening, while silver traded at ૯ 17.8 an ounce, up લર 17.8 an ounce. The other precious metal, platinum, was trading at ૮૩૮ 6, up from 50, while palladium was trading at ૯૬૬ 15, down from ૯૭૯ 15 an ounce. Gold prices have risen further to ૩ 2,000.

The dollar index fell to a four-week low. The Bank of Japan has not made any changes to its monetary policy.

In the domestic currency market, the dollar fell by 50 paise to close at Rs 2.15, while the euro rose by 3 paise to Rs 2.7 and the pound by 3 paise to close at Rs 4.5. Crude oil has seen a spark. Late in the evening, New York crude oil crossed ડો 80 a barrel and traded at ૯ 90.31, while Brent traded at ૪૨ 4.5. In the US, crude oil stocks fell by 3 lakh barrels.