Silver fell from an eight-year high

(Gujarat News Office) Mumbai, Ta. 02 February 2021, Tuesday

In the Mumbai gold-silver market, the prices of both the precious metals fell sharply today. World market news was booming. In the Ahmedabad market, the price of silver today fell from Rs 2,000 per kg to Rs 30,000 per kg, while the price of gold in Ahmedabad fell by Rs 200 per 10 grams to Rs 30,100 from Rs 3.50 and Rs 30,200 from Rs 4.50.

In the Mumbai market today, the price of gold excluding GST was Rs 2,150 per ounce, Rs 2.50 per ounce, Rs 2.50 per ounce was Rs 5 per ounce and silver was Rs 30,605 per ounce, with the price of these two precious metals including GST. 5 percent were higher.

Meanwhile, gold prices in the world market today fell from ૮૬૬ 15 to ઠ 12 an ounce to ૮૪૩ 16 to સાંજે 12 in the evening. Silver prices, which had touched a three-year high in global markets, fell sharply by five per cent today. Global silver prices, which had been hovering above ૩ 50 an ounce, fell to ૬૪ 4.5 to ૬૫ 7.5 this evening.

Silver hit a high in the world market today on a profitable sell-off. According to sources in US Commodities Futures Trading Kishan, CME has increased its margin on Comex silver futures by 19.50 per cent to curb speculative elements as silver prices rebound.

There were indications that the margin per contract in silver futures had increased from ૪ 15,000 to ૬૫ 1,200. Silver inflows in the form of global silver exchange traded funds ETFs and mutual funds rose to a new five-month high of થતાં 1.50 billion in January, according to world market analysts.

Platinum, meanwhile, fell from ૨૪ 115 to ૨૫ 115 an ounce today to ૩ 1,105 to ૪ 1,103 an ounce, while palladium was reported to be at સમાચાર 6 to સાંજે 7 an ounce from ૨૨૮૪ 6 to સાંજે 7 an ounce.

In the Mumbai currency market, the dollar fell by 3 paise to Rs 2.7 today, while the British pound fell by 3 paise to Rs 6.31 to Rs 6.5. The euro was down 3 paise at Rs 4.5. Meanwhile, the Japanese yen was down 0.15 per cent in the Mumbai currency market today. Crude oil prices in the world market today jumped two to two and a half percent. Experts were hoping that the demand for crude oil in the world market would increase as hopes for stimulus rose again in the US and vaccines progressed.

New York's main contract, light sweet crude for delivery in New York, was trading at ૫૪ 4.50 to ૭૫ 6.5 a barrel and Brent crude was trading at ૬ 6.50 to ૬૫ 6.5 a barrel this evening.

Copper prices were 0.50 to 0.5 per cent softer in global markets this evening. Copper stocks at London X were trading at થી 60 to ૭૭૪૫ 7 a tonne in six-month futures today. Today was the news of an increase of 3 tons.