Gold and silver continued to improve on the back of the global market

Mumbai, Ta. 19 January 2021, Tuesday

Domestic gold and silver improved on the back of the world market. Gold prices rose on signs that the new US president would announce even more stimuli. The rupee strengthened against the dollar in early trade. Crude oil also saw an improvement in prices.

At home, gold in the Mumbai market rose by Rs 2.50 per ten grams, excluding GST, to Rs 5. Gold was trading at Rs 3,151, up from Rs 2.50. Prices with GST were three per cent higher. Silver. The price of one kg rose from Rs 5 to Rs 201. Prices with GST remained three per cent higher.

In the Ahmedabad market, gold rose by Rs 200 to Rs 30,600 per ten grams at Rs 9.30 and Rs 21,000 per gram. Silver.2 The price of one kg rose by Rs 200 to Rs 200.

World gold prices rose from ૮૩૩ 15 an ounce to ૮૪ 150 an ounce late in the evening. Silver traded higher at ૨૫ 2.50, up from 2.9, while platinum rose from ૭૯ 103 to ૧ 1,101. Palladium was quoted at ૨૩૯ 50 an ounce.

In the United States, the new government was sworn in, signaling the release of more stimuli. Investment in gold as hedging increased due to fear of rising inflation as currency supply increased. In addition, the fact that the unemployment rate in Hong Kong has reached a 17-year high is also considered to be one of the reasons for the decline in gold.

In the domestic currency market, the dollar fell by 11 paise to Rs 2.15. The rupee was supported by gains in the stock market. The dollar index was down at 70.5. Among global crude oil futures, New York crude was trading at ૫૨ 4.5 a barrel and Brent at ૪૭ 4.5 a barrel.