Gold fell as crude fell below 70 70

(Gujarat News Office) MUMBAI: Both the precious metals declined in the Mumbai jewelery market today. World market news was showing a sharp softening in prices. With the world market collapsing and the import cost coming down, the jewelery market was witnessing a situation of more sellers and less buyers. However, as the dollar rebounded against the rupee in the domestic currency market today, the fall in jewelery prices was limited, market insiders said.

Gold prices in the world market today were quoted at ૮ 1,315 to ૩ 1,215 an ounce, down from ૮ 1,200 to ૮ 1,201 an ounce. On the back of gold, global silver prices fell by ૨૫ 4.5 to ૬૭ 6.5 an ounce today, from ૧ 2.11 to ૨ 2.15 an ounce.

The resurgence of new corona virus cases in various parts of the world has raised fears of a slowdown in global economic growth, with safe-haven buying in the dollar and the Japanese yen rising today and the dollar index hitting a three-month high. Were met.

Meanwhile, in the Ahmedabad jewelery market, gold prices fell by Rs 100 per 10 grams to Rs 200 from Rs 3.50 and Rs 200 from Rs 3.50, while Ahmedabad silver prices fell by Rs 200 to Rs 2,000 per kg. In the world market today, the price of platinum fell from ૪ 1,108 to ૫ 1,105 an ounce, falling below ૦૦ 1,100 to ૭૪ 105 to ૭૫ 105, while the price of palladium fell from ૨૬૩ 60 to ૨૬૩ 71 an ounce to ૨૫૭૮ 5 to ૨૫૭૯ 7.

The fall in crude oil prices by about 3.5 per cent in the global market today also had a negative impact on global gold prices. On the other hand, global silver prices came under further pressure as copper prices fell by three-and-a-half per cent today, world market analysts said.

In the Mumbai jewelery market, gold today was trading at Rs 9, excluding GST, at Rs 30 per ounce, closing at Rs 4,150 per ounce, excluding GST, at Rs 4,150, while prices with GST were three per cent higher.

Meanwhile, the price of Mumbai silver today closed at Rs 500, excluding GST, from Rs 5 to Rs 50, while the price with GST was three per cent higher than this. Meanwhile, world crude oil prices fell today amid news that the world's crude oil producers had agreed to increase daily production by about four lakh barrels in August.

New York's main contract, light sweet crude for delivery in New York, traded below ડો 50 a barrel and traded lower at ૬૯ 2.15 a barrel, while Brent crude traded lower at 61.10 a barrel. As the outbreak of the new corona virus spreads to various parts of the world, the impact on the world market today was a rapid softening of crude oil prices, market analysts said.