Gold-silver declines at home behind the world market

(By commercial representative) Mumbai, Ta. 22 December 2020, Tuesday

As a result of the retreat in gold and silver in the world market, the prices of both the precious metals also saw a slowdown from higher prices. The currency market saw a rise in the pound. The new form of the corona virus led to a recession and a decline in crude oil.

In the domestic market, gold in the Mumbai market fell by Rs 2.50 per 10 grams, excluding GST, from Rs 10,105 yesterday. The price of 2.50 was Rs. Prices with GST were quoted three per cent higher. Silver. The price of one kg excluding GST fell by Rs 315 to Rs 3111. Prices were quoted three per cent higher with GST.

Prices remained stable in the Ahmedabad market. Silver was at Rs 200 per kg, gold at Rs 2.50 per ten grams and Rs 31,500 at Rs 9.50 per ten grams.

Gold for immediate delivery fell by ૮૮૪ 15 an ounce to ી 12 an ounce and silver by 2.8 an ounce to 2.8 an ounce. Platinum rose from ૧ 1,005 an ounce to ૧ 1,012 an ounce, while palladium rose by 215 to ૨૩૨૭ 8. The dollar index saw an increase.

In the domestic currency market, the pound gained 12 paise to Rs 2.31, the euro gained 8 paise to Rs 20.8 and the dollar rose by 3 paise to Rs 4.5. Intraday, the dollar was seen at Rs 4.5.

As a result of the new virus, crude oil continued to decline in the wake of the recession. New York crude was trading at ૩ 2.50 a barrel, while Brent was trading at 80.5. China has increased its crude oil import quota by 12 per cent early next year.