New record in gold: Ahmedabad silver rose by Rs 2,500 to Rs 61,500

Mumbai, Ta. 23 July 2020, Thursday

Gold and silver rallied behind the world market. Gold has seen new record prices. Although the coronavirus effect and the high price are not particularly taken into account, the world market is seeing a rise in domestic prices.

The dollar index has continued to fall below 8. The Sino-US dispute is escalating. On the other hand, reports of Chinese military deployments on the Ladakh border are signaling a worsening situation.

At home, the GST-free price of 10 grams of gold in the Mumbai market, which closed at Rs 50 yesterday, rose to Rs 30,800 today. The price of gold was Rs 30,605 with a price of Rs 30,201. Prices with GST were quoted three per cent higher. Gold has seen a new high.

Silver. The price of one kg excluding GST was Rs. Prices were three per cent higher with GST. In the Ahmedabad jewelery market, gold rose by Rs 200 to Rs 200 from Rs 2.50 and Rs 200 from Rs 4.50. Silver also rose by Rs 200 to Rs 21,500 per kg.

Gold for immediate delivery rose by ૮૫૯ 15 an ounce to ૮૭૭ 16 an ounce and silver by ૩૩ 2.8 an ounce to 4.5 an ounce.

The other precious metals were platinum at લર 610 for 8 and palladium at ૨ 215 for 215. The dollar index fell for the fifth day in a row. Gold is moving towards ૯ 1,200 in the world market.

The rupee had closed lower against the dollar in the domestic currency market. The dollar had touched a low of Rs 7.31 and a high of Rs 6.5 before closing at Rs 4.5. The euro gained 3 paise to close at Rs 2.50 and the pound gained 7 paise to close at Rs 2.09.

Increasing US-China trade tensions were putting pressure on crude. New York crude was trading at ૭૫ 71.8 a barrel, while Brent was trading at 4.10. Declining demand has kept prices under pressure.