Silver falls below Rs 70,000: Global gold retreats

(Gujarat News Office) MUMBAI: Gold prices rose again in the Mumbai jewelery market today, while silver prices continued to decline. Gold prices remained soft in world markets today. Gold prices remained soft in world markets today. Gold prices in the world market fell from ૭૮ 161 to ૭૮૨ 16 an ounce to ૭૭૭ 16 to ૭૭૮ 12 an ounce. There was talk in the market today of selling funds in gold in the rising world market after the global dollar index fell. However, despite a slowdown in gold, global silver prices rose by લર 2.10 an ounce to ૧ 2.11 an ounce and traded at ૩ 2.15 an ounce today.

However, with the global rupee depreciating by 0.07 per cent this evening, the improvement in silver prices was limited, world market analysts said. Despite strong global markets, domestic prices remained under pressure today due to lack of new demand for silver. In the Ahmedabad market, silver fell by Rs 200 per kg to Rs 200 per kg today.

However, Ahmedabad gold prices were hovering at Rs 900 per 10 grams at Rs 2.50 and Rs 900 at Rs 9.50 per 10 grams. Platinum, meanwhile, fell by ડો 1,110 to ૧ 1,111 an ounce from ૫ 1,107 to ૬ 1,105 an ounce today, while palladium was up by લર 20 to ૨૬૪ 21 an ounce, up from ૨૬૪૪ 5 to ૨૬૪૫ 7.

Meanwhile, gold prices in the Mumbai jewelery market today closed at Rs 200, excluding GST, at Rs 200, from Rs 8.50 to Rs 200, while at Rs 8.50, the price of Rs 4,000 closed at Rs 319 and closed at Rs 705.

While prices with GST were three per cent higher than this. Meanwhile, silver prices in the Mumbai market today closed at Rs 715, excluding GST, from Rs 500 to Rs 305, while prices with GST were three per cent higher. Meanwhile, the impact on the global gold market was also felt today as crude oil prices in the global market remained on a slow decline.

New York crude, which was hovering above ૭૪ 5 a barrel, fell below ૭૪ 2.50 to ૯૫ 6.50 a barrel today, while Brent crude, which was hovering above ૭૬ 8, fell below ૭૬ 8 to ૯ 7.50 a barrel today. 4.5.

Amid rising demand for crude oil in the first phase of the third wave of Corona in various parts of the world, global crude oil prices have softened today on the back of rising demand, world market experts said.

Gold imports during the April-May period of the current financial year stood at 4.31 billion, compared to the same period last year. Gold imports fell during the same period last fiscal following the Covid-12 epidemic and a nationwide crackdown. Gold imports have an impact on current account deficits. According to the Commerce Ministry, imports of the precious metal during the financial year 2020-21 stood at 341 million.

During the April-May period of the current financial year, silver imports also declined by 4.5 per cent to ૭૬ 25 million. The trade deficit (the gap between imports and exports) has widened to ૩૮ 21.5 billion from April-May 2030, due to a rise in gold imports. It was 4.5 billion in the same period a year ago.

India is the largest importer of gold. Depending on the quantity, gold imports range from 500 to 800 tonnes per annum. In the first two months of the current financial year, exports of gems and jewelery grew exponentially to 4.5 billion.