Crude oil fell three per cent

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(Gujarat News Office) MUMBAI: World crude prices fell three per cent today to a three-month low. Rising global Delta virus outbreak has had a negative impact on crude oil and copper prices. Fear of declining demand was being shown. New York's main contract, light sweet crude for delivery in New York, fell to 6.5 a barrel in the evening trade, while Brent crude fell to 6.15 a barrel. Rising gasoline stocks in the US also had an impact on crude prices.

The bullion market at Mumbai Jewelery Bazaar was officially closed today. The bullion market was closed following the bank holiday but gold prices rose in the closed market while silver prices were softening. In the Ahmedabad jewelery market, the price of silver today fell by an additional Rs 200 per kg to Rs 2,000.

In the Ahmedabad market, silver prices fell by Rs 2,000 in two days, market sources said. Meanwhile, gold prices in the world market, however, were reported to be between ૭૮૭ 15 and ના 18 an ounce this evening amid a sharp decline. Gold prices fell against the dollar as global markets rallied to discuss further downgrades in government bond buying in the United States.

The Mumbai currency market was officially closed today. But in closed markets, the dollar rebounded from Rs 2.50 to Rs 7.5 against the rupee, market sources said. Silver, meanwhile, traded lower at à«­ 2.50 an ounce from à«­ 2.81 an ounce in today's trade. Meanwhile, the fall in global crude oil prices by about three per cent also had a negative impact on global gold prices today.

In the Mumbai market, gold today was trading at Rs 305 per 10 grams excluding GST, though it was at Rs 800, Rs 9.50 per 10 grams at Rs 500 and with GST, it was three per cent higher. Mumbai silver price today was Rs 60 per kg excluding GST. Ahmedabad gold price today was Rs 900 at Rs 8.50 and Rs 3,100 at Rs 8.50.

Platinum was down another લર 6 to ૦૦ 1,000 an ounce in the world market today, while palladium was down another 6 to ૨૪૭૫ 7 an ounce today.

In addition to platinum and palladium, the fall in copper prices also weighed on silver prices. Global copper prices were hovering in the minus range of 7.5 to 7.50 per cent this evening. Copper prices fell to a four-month low of less than 2,000 a tonne.

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