The British pound bounced above Rs 100

(By commercial representative) Mumbai, Ta. 24 December 2020, Thursday

At the back of the world market, gold and silver prices rose again after absorbing the shock of the recession. Ahmedabad silver saw an increase of Rs 1,000. The pound jumped to Rs 100 in the domestic currency market. The pound strengthened after the Brexit trade deal was finalized while the euro weakened. Crude oil was also under pressure.

At home, gold in the Mumbai market rose by Rs 31 to Rs 3.50 per 10 grams, excluding GST. The rupee was trading at Rs 4.50 with a value of Rs 2.50. Prices with GST were quoted three per cent higher. Silver. The price of one kg was closing at Rs. 21 with Rs. Prices with GST were quoted three per cent higher.

In Ahmedabad, silver rose by Rs 1,000 to Rs 2,000 per kg, while gold rose by Rs 100 to Rs 31,600 per ten grams and Rs 31,200 per ten grams.

Gold for immediate delivery rose by ડો 150 an ounce to ૮૭૩ 16 an ounce in late trade, while silver was trading at ૨૫ 2.81 an ounce, up from ૨૮ 4.5 an ounce. Platinum rose from ૧ 1,008 to ૨૩ 105, while palladium hovered around 8 an ounce.

In the domestic currency market, the dollar fell by 3 paise to Rs 2.8, the euro by 2 paise to Rs 6.5 and the pound by 105 paise to close at Rs 100.05. Consensus between Europe and Britain on the post-Brexit trade deal strengthened the pound. The pound has risen in anticipation of the deal benefiting Britain.

The rising case of Corona continued to put pressure on crude oil prices. New York crude was trading at ૭૫ 4.5 a barrel, while Brent was trading at 70.81. A fire at a large oil field in Nigeria has threatened to disrupt supplies of crude oil.