Gaps in palladium as well as platinum

(By commercial representative) Mumbai, Ta. Thursday, October 28, 2020

Gold, silver, equities and crude were down sharply in world markets today. Precious metal prices were also under pressure at home behind the world market.

At home, gold in the Mumbai market fell by Rs 3.50 per 10 grams, excluding GST, which had closed at Rs 205 yesterday. Gold was closing at Rs 205, up from Rs 3,105 per ten grams. Prices with GST were quoted three per cent higher. The price of silver per kg, excluding GST, which was Rs 4,151 yesterday, closed at Rs 4,150 today. Prices with GST were quoted three per cent higher. In the Mumbai market, silver fell further to Rs 31,000 in the private market late in the evening.

Ahmedabad gold was priced at Rs 600 per ten grams and Rs 600 per gram. Silver.2 The price of one kg was Rs. The decline in gold and silver as the domestic dollar rose was limited compared to the world market.

In the world market, gold fell below ૯ ​​1,200 an ounce and was trading at ૮૮૯ 15. Silver traded lower at ૨૩ 2.7 an ounce, from ૪ 4.31 an ounce, while platinum was down at 8 an ounce and palladium was down sharply from ૨૩૬ 21 an ounce to ૨૨૮૨ 8 an ounce.

President Trump's statement that new stimuli for the corona in the United States will come only after the election has resulted in a crash in the precious metal. The dollar index rose against a decline in gold. Funders are buying dollars as a safe haven.

Crude oil stocks in the US have risen more than expected, with crude oil crashing more than four per cent. Stocks rose 5 million barrels to 5 million barrels against expectations of 1.4 million barrels, resulting in New York crude oil trading at ૮૩ 4.5 a barrel and Brent crude at ૬૪ 4.5.

In the domestic currency market, the dollar rose 19 paise to Rs 2.8, the euro fell 19 paise to Rs 2.7 and the pound gained 20 paise to close at Rs 2.09. Equity markets, including India and Europe, saw sharp declines today.