Decline in gold and silver behind the world market

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(By commercial representative) Mumbai, Ta. Thursday, October 22, 2020

Domestic precious metal prices were under moderate pressure behind the world market. The decline in crude oil took a break and saw a modest improvement. The rupee saw mixed flows in the domestic currency market. New unemployment figures in the United States have dropped compared to last week.

At home, the GST-free price of 10.50 per ten grams of gold in the Mumbai market, which was Rs 31,150 yesterday, has come down to Rs 31,105 today and closed at Rs 5,112. Silver. The price of one kg was Rs. Prices with GST were quoted three per cent higher.

Ahmedabad Sanu was down Rs 100 at Rs 2.50 per ten grams and Rs 200 at Rs 3.50. Silver fell by Rs 200 to Rs 2,000 per kg.

Behind the world market, gold was trading at ૯ 1,307 an ounce, while silver was trading at ૨૪ 2.8 an ounce, up from ૯૯ 2.6. Platinum was quoted at ૮૬૯ 7, while palladium was quoted at ૨૩૭ 50 an ounce, up from ૨૪ 200. The number of new jobless in the US has dropped modestly compared to last week. Unemployment has risen by 4.5 lakh.

The rupee saw mixed flows in the domestic currency market. The dollar was down 3 paise at Rs 2.7, the euro was down 3 paise at Rs 2.15 and the pound was up 3 paise at Rs 6.5. Global crude oil prices saw a modest improvement. New York crude was trading at ૨ 70.60 a barrel, while Brent was trading at ૯૬ 71.8.


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