Strength in domestic gold and silver crude tops nine-month high

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(By commercial representative) Mumbai, Ta. 18 December 2020, Friday

Gold and silver continued to strengthen at home behind the world market. The pound was broken over the weekend without a settlement on the Brexit issue. Crude oil prices have seen a nine-month high. The new drug of unemployment in the US was seen at a three-month high.

In the domestic market, gold in the Mumbai market rose by Rs 305 to Rs 305 per 10 grams excluding GST. The price of 10.50 ten grams increased from Rs. Prices were quoted three per cent higher with GST. Silver. The price of one kg rose by Rs. 6 to Rs. Prices were quoted three per cent higher with GST.

Ahmedabad gold rose by Rs 100 to Rs 31,600 at Rs 2.50 and Rs 21,600 per ten grams at Rs 2.50. Silver.2 The price of one kg was Rs.500.

World gold prices rose from ૮૭૮ 15 an ounce to ૮૮૮ 16 an ounce and silver from 4.5 an ounce to ૨૫ 2.3 an ounce. Platinum fell from ૫૭ 105 to ૫ 1,050, while palladium was trading at ૨૩૪૨ 8 an ounce. Gold and silver are showing resilience in anticipation of new stimulus in the US. There are 2.3 million new unemployment claims in the United States.

In the domestic currency market, the pound was down 3 paise at Rs 2.31, while the dollar was down 3 paise at Rs 2.3 and the euro was up 19 paise at Rs 70.11.

Crude oil prices hit a nine-month high in world markets. New York's main contract, light sweet crude for delivery in New York, was trading at ૪૮ 2.4 a barrel and Brent crude was trading at ૩૩ 61.8 a barrel. Prices are being supported by rising demand for India's crude oil.

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