Reduction in gold discounts: Focus on festive demand

-

(By commerce representative), Mumbai, Ta. 19 September 2020, Saturday

The bullion market in Mumbai gold-silver market remained closed on Saturday due to Saturday, however, gold and silver prices were trading lower in the Mumbai market behind the closed world market. As the dollar index rose in global markets, the selling of funds in gold was seen on the rise.

World gold prices fell from ૯૫૪ 15 an ounce to ૯૫ 120 an ounce over the weekend. On the back of gold, silver also declined from ૯ 3.05 an ounce to ૨૬ 2.3 an ounce.

Meanwhile, at the Mumbai Bullion Market, gold for delivery in 10 grams today was trading at Rs 31,600, down from Rs 21,315 per ounce, excluding GST, while it was trading at Rs 31,50 per ounce, down from Rs 31,50 per ounce. . Meanwhile, prices including GST were 3 per cent higher than this.

Meanwhile, silver prices in the Mumbai market today were trading at Rs 2,200 per kg, excluding GST of Rs 5 per kg, while prices with GST were 3 per cent higher.

Platinum, meanwhile, was trading lower at ૯૩ 21 an ounce from ૯૪૫ 6 an ounce, while palladium was trading at થી 41 an ounce. In the Mumbai currency market today, the dollar rose from Rs 4.5 to Rs 2.50 on the back of global markets, currency market sources said.

Meanwhile, gold prices fell to around ૨૩ 2 an ounce from ૨૩ 50 an ounce in anticipation of seasonal festive demand in India's jewelery markets, analysts said. In China, such discounts have dropped from ૪૫ 5 to 20 to ૪૪ 5 to 8, according to world market sources. Meanwhile, global crude oil prices rose to ૪ 71.11 a barrel from New York's 70.8 a barrel, while Brent crude rose to ૫ 6.15 a barrel over the weekend from ૪૩ 2.05.

The number of oil rigs producing crude oil in the United States fell to a three-week low of 12, while analysts were hoping for a resumption of production in the world market as production resumed in some closed oil fields in Libya.

However, OPEC officials told OPEC crude-producing countries not to exceed production quotas. Meanwhile, according to investment bank Goldman Sachs, the price of Brent crude will now rise to ૪૯ 6 and rise to ૬૫ 5 next year, the bank said. .

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro...
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja...
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se...
Read more