Gold picks up after shock: Silver declines

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(By commercial representative) Mumbai, Ta. 10 November 2020, Tuesday

Gold prices rose sharply in the Mumbai market as a result of a rebound in gold and silver prices in the global market. However, silver saw a decline in prices. Crude oil was seen to be trending higher. The rupee had a mixed position against the major global currencies in the domestic currency market.

In the domestic Mumbai market, the price of 10 grams of gold, excluding GST, which fell to Rs 30,600 on Monday, was Rs 30,400 intra-day and closed at Rs 305 today. The price of ten grams at 9.30 was Rs 3040 and closed at Rs 305. Prices with GST were quoted three per cent higher. Silver. The price of one kg, which was Rs 500 in the private sector yesterday without GST, fell further to close at Rs 215 today. Prices with GST were quoted three per cent higher.

Ahmedabad gold was priced at Rs 600 per ten grams at Rs 2.50 and Rs 800 at Rs 9.50. Silver.2 Rs 2,000 per kg.

World markets saw an increase in prices as speculators cut sales. Gold, which was trading at ગો 15 an ounce yesterday, was trading at ૮૭૬ 16 this evening. Silver was trading at ૨૪ 2.15 an ounce, up from ૬ 2.31 an ounce. Platinum was quoted at 6, up from ૮૬૭ 3, while palladium was quoted at ૨૪૮૮ 8 an ounce.

In the domestic currency market, the dollar rose by 2 paise to close at Rs 2.15 after two-way fluctuations. The pound gained 3 paise to Rs 2.7 while the euro lost 3 paise to close at Rs 4.5. The success of the corona vaccine has helped keep the global economy afloat. New York crude was trading at ૬ 70.50 a barrel, while Brent crude was trading at 4.5.

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