Gold rose in world markets as jobless claims rose in the US

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(Gujarat News Office) MUMBAI: Gold and silver prices continued to decline in the Mumbai jewelery market today. Although world market news was showing signs of recovery from the fall in prices, the dollar's weakness against the rupee in the domestic currency market today has had a knock-on effect on the jewelery market.

World gold prices rose by વધી 15 to ૭૯૭ 12 an ounce and were trading at ૩ 1,305 to ૪ 1,305 an ounce today. Behind gold, global silver also rose by ૯૯ 4.5 to ૦૦ 8.00 an ounce, from ૩ 4.50 to ૩ 7.31 and from ૧ 4.11 to ૨ 6.15.

Unemployment claims in the US were reported to have risen from 8 lakh to 4 lakh to 4 lakh 12 thousand, and this has led to renewed uncertainty about the job market. The news was received.

Meanwhile, at home, gold prices fell by Rs 500 to Rs 2,000 per 10 grams and Rs 500 to Rs 8.50 per 10 grams in Ahmedabad jewelery market today, while Ahmedabad silver prices fell by Rs 500 to Rs 2,000 per kg.

Platinum prices in the world market today rose from ૬૯ 105 to ૭ 1,050 an ounce to ૮ 1,081 to ૮૨ 105. Palladium prices jumped from 61 to ૨૬૫ 6 an ounce to ૨૬૬૭ 4 to 4 an ounce. With global copper prices hovering between 1.30 per cent and 1.2 per cent higher this evening, global silver prices have found support, according to world market analysts.

The world market witnessed a slow rise in crude oil prices today and its impact on global gold prices was seen to be positive. World crude oil prices rose nearly five per cent today to ૭ 70.8 a barrel in New York, and Brent crude traded above ૭૨ 8 a barrel, hitting 2.8. According to reports from Russia, the Russian government is considering banning petrol exports.

Meanwhile, gold prices in the Mumbai jewelery market today closed at Rs 5, excluding GST, at Rs 70 per ounce, Rs 8.50 per ounce, Rs 30 per ounce and three per cent higher with GST. Meanwhile, silver prices in the Mumbai market today closed at Rs 500, excluding GST, while prices with GST were three per cent higher.

Analysts were predicting a rise in US crude oil stocks and a subsequent softening of global crude oil market trends. Experts also feared that the global outbreak of the new Corona virus would have an adverse effect on crude oil demand.

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