Crude oil prices rebound due to hurricane near Gulf of Mexico

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MUMBAI: Gold and silver prices fell again in the Mumbai jewelery market today after rising early. Crude oil prices rose in world markets today amid news that oil producers had halted production in the wake of a hurricane near the Gulf of Mexico.

New York's main contract, light sweet crude for delivery in New York, rose 1.50 per cent to 1.8 per cent from ૭ 2.50 a barrel today. Brent crude rose 1.50 per cent to 1.8 per cent from ૭૨ 4.50 a barrel to 2.50 a barrel.

However, as prices rose, indications came later that OPEC's crude-producing countries had decided to move ahead with plans to increase production. The Gulf of Mexico accounts for about 15 to 20 percent of all crude oil production in the United States. About 7% of US oil refining capacity is located in the Gulf Coast. Recently there was also a fire on a Mexican oil platform.

Meanwhile, gold prices in the world market today rose by લર 15 to ૭૮૪ 12 an ounce from ૭૯૪ 16 to ૭૯૫ 16 an ounce, while global silver prices rose by ૫૯ 4.5 to ૬ 2.50 an ounce today. In the Mumbai market today, the price of gold at 10 grams excluding GST is Rs 2.50. 2150 with Rs. ૪૭૪૨૭ Open Rs. 20 while closing at Rs. 50 with Rs. 215 open Rs. 215 were closed.

Mumbai silver price today at Rs. 20 open with Rs. 4 were closed. In the Ahmedabad jewelery market, silver today touched Rs. 500 decreased to Rs. 6,000 remained. When the price of gold is Rs. 500 and Rs. 200 remained.

Meanwhile, the number of unemployment claims in the United States has risen from 5 lakh to 7 lakh, which was expected to be 4 lakh 50 thousand. GDP figures are also weaker than expected. As a result, the global dollar index was under pressure and there was talk of an increase in funds in gold in the world market.


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