Gold retreated in the late evening as global markets rallied

(By commercial representative) Mumbai, Ta. 27 November 2020, Friday

The back of the world market saw a rebound in prices during the routine trading in the gold and silver market. However, in the late evening, global gold prices fell again in the Mumbai bullion market late in the evening, gold prices fell further by Rs 200. The rupee weakened against major global currencies while crude oil remained subdued.

The country's GDP figures for the September quarter were negative but better than analysts had expected and for the June quarter. The country's fiscal deficit could be a cause for concern for policymakers as it rises significantly above the current fiscal year's target.

At home, the GST-free price of 10 grams of gold in the Mumbai market, which was Rs 5 yesterday, was slightly lower. Prices with GST were three per cent higher. The price of ten grams of gold at Rs 2.50 was Rs 5 with Rs 5. Prices with GST were quoted three per cent higher. Silver.2 The price of one kg was Rs. At the bottom, the price of Rs 50 was seen. Prices with GST were quoted three per cent higher.

In Ahmedabad, gold fell by Rs 200 to Rs 30,700 per ten grams and Rs 30,700 per 2.50 grams. Silver.2 was Rs 21,500 per kg.

World gold prices were at ૮ 1,309 an ounce, ચા 1,318 an ounce, silver at ડો 2.50 an ounce, પ્લે 2.15 an ounce and platinum at ૯૬૫ 31 an ounce, while palladium at ૨૩૭૭ 5 an ounce was up ૨૩૮૪ 3.

Palladium saw a demand of ૨૪ 500. Global gold fell below વચ્ચે 1,300 to ૭૮૩ 14 a barrel, while silver fell to 2.50 a barrel, according to reports late in the day.

The rupee weakened against major global currencies in the domestic currency market. The dollar had gained 19 paise to close at Rs 2.09, the pound had gained 18 paise to close at Rs 2.8 and the euro had gained 21 paise to close at Rs 2.15. Fundraisers were buying in the dollar index. Crude oil prices remained stable over the weekend. New York crude was trading at ૫૬ 4.5 a barrel, while Brent was trading at 4.5.

The OPEC meeting on Monday is under scrutiny. Prices were maintained on reports of rising supplies from Libya.