Gold rises to close at Rs 50,000: Silver jumps to Rs 1,000

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(Gujarat News Office) MUMBAI: Gold and silver prices rebounded in the Mumbai jewelery market today. World market news was showing a rebound. In the US, the US Federal Reserve has warned that interest rates will not be raised immediately and that bond buying will continue. With the global market rising, the import cost was also going up and the jewelery market was going to reduce the new selling mood.

Gold prices in the world market today rose from ૭૯૯ 15 to ૮ 1,200 an ounce to ૮૨૫ 12 to ૮૨૫ 15. Behind gold, global silver also rose by ૭૬ 4.5 to ૭૬ 6.5 an ounce today, from ૫૨ 4.5 to ૫૩ 7.5 an ounce. Meanwhile, gold prices rose to close at Rs 20,000 per 10 grams in Ahmedabad jewelery market today.

In the Ahmedabad market, gold prices rose by Rs 200 to Rs 200 from Rs 2.50 and Rs 200 from Rs 6.50, while Ahmedabad silver prices rose by Rs 1,000 to Rs 2,000 per kg.

The rise in crude oil prices by nearly half a per cent to ઉપર 6 a barrel today also had a positive effect on global gold prices. Global crude oil prices rose to ર્ક 2.50 from ૭ 6.50 a barrel in New York today, while Brent crude traded up to ૪ 4.08 to ૫ 2.05 a barrel.

The American Petroleum Institute said that the stock of crude in the United States has decreased. Copper prices rose 0.7 per cent to 0.50 per cent in global markets today, which was supported by global silver bullion, world market analysts said.

In the Mumbai jewelery market, gold prices rose by Rs 30 to Rs 9.15 per liter, excluding GST, and by Rs 8.50 per kg to close at Rs 4. While the impact with GST was three per cent higher than this price. Meanwhile, silver prices in the Mumbai market today rose by Rs 4 excluding GST to close at Rs 31.

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