Gold discounts fall to one-and-a-half month low

(By commerce representative), Mumbai, Ta. 26 September 2020, Saturday

Gold and silver prices fell in the country's jewelery markets today, triggering a rebound. News from the world market was showing strength, with market sources pointing to seasonal inquiries in jewelery markets as the festive season approaches, market sources said. In the Ahmedabad jewelery market, silver rose further by Rs 200 to Rs 3,600 per kg, while in the Ahmedabad market, gold prices remained firm at Rs 41,100 per 10 grams and Rs 21,600 per kg. .

Meanwhile, in the Mumbai jewelery market, the bullion market remained closed on Saturday due to Saturday, but prices were quoted higher in the closed market. In the Mumbai market, gold for delivery in 10 grams was quoted at Rs 3,500, excluding GST, from Rs 7.50, while at Rs 6.50, it was quoted at Rs 3,50, up from Rs 3,6. And prices including GST were quoted three per cent higher than this.

Meanwhile, silver prices in the Mumbai market today were quoted at Rs 2,600 per kg, excluding GST, from Rs 4.5 per kg, while prices with GST were 3 per cent higher.

Meanwhile, gold discounts in India have declined, with such discounts falling to a one-and-a-half-month low, experts said. In India, such discounts have fallen from ૨૩ 2 per ounce to ૫ 3, experts said.

In China, meanwhile, such discounts were reported to have fallen from ૪૪ 6 to ૪૮ 8 per ounce to થી 20 to ૪૫ 5, while in Singapore and Japan, premiums were reported to be around પો 1 per ounce. Meanwhile, the dollar index in the world market saw a decline in gold, taking funds again.

Meanwhile, gold in global markets rose by લર 15 an ounce to ૮૬૨ 16 over the weekend, silver by ૭૫ 4.5 to ૮૯ 2.4, platinum by ૮૪૪ 8 to ૮૪૯ 3 and palladium by ૨ 215 to ૨૨૨૮ 6. Meanwhile, in the Mumbai currency market, the dollar was trading at Rs 4.5, down from Rs 4.31 in the previous session.

Amid a slowdown in global crude oil prices, New York jumped ડો 20 a barrel to 70.8 a barrel and Brent crude traded up 21.8 a barrel over the weekend. Meanwhile, news of a sharp rise in corona cases in Germany and Poland also looked positive on the global gold market.

World market players were eyeing the new stimulus package to be unveiled in the US. Overall, global gold prices have declined by about 3 per cent this week, but with the price of gold rising from a two-month low over the weekend, the market is keeping a close eye on the new week's events, sources said.