Advance in gold: mixed trend in silver

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MUMBAI: Gold and silver prices rebounded in the Mumbai jewelery market today. World market news, however, showed two-way fluctuations on the back of rising prices. Gold prices remained soft after the dollar index rose in global markets. Global gold prices were trading at ૭૭૬ 15 to ૭૭૬ 12 an ounce, after hitting a high of 12 to ૭૮૫ 15 an ounce.

However, the rise in the dollar against the rupee in the domestic currency market had a bullish effect on the domestic jewelery market. In Ahmedabad jewelery market, gold price rose by Rs 150 per 10 grams to Rs 30 from Rs 8.50 and Rs 30 from Rs 4.50.

Ahmedabad silver price was quoted at Rs 600 per kg with a soft price of Rs 2,000. Silver traded lower at ૮૭ 6.00 an ounce, up from 4.00 an ounce to ૦૦ 4.00 an ounce.

Meanwhile, prices of platinum in the world market ranged from ૪૨ 105 to ૪૩ 105 to ૬૩ 105 to ૬૩ 105 to ૬ 1051 to ૬૨ 105, while palladium prices ranged from ૨૫ 215 to ૫ 215 to થી 50 to થઈ 21 to ૨૫૬૭ 4 to 5. As global copper prices rose 0.5 to 0.50 per cent this evening, there were indications that silver prices were gaining support in the global market.

In the Mumbai jewelery market, gold today closed at Rs 515, excluding GST, at Rs 8.20, while at Rs 8.30, it closed at Rs 319 at Rs 4,151, while prices with GST were three per cent higher. Meanwhile, silver prices in the Mumbai market today rose by Rs 8 to Rs 515 excluding GST, while prices with GST were three per cent higher.

Crude oil prices hit a new low in the global market today. Brent crude was trading at ૭૪ 6.5 a barrel after hitting a high of ૭૫ 4.50 to ૨૫ 6.5 a barrel this evening, while New York crude was trading at a low of ૨ 6.50 to ૨૫ 7.5 after rising.

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