Gold and silver prices rose before Janmashtami

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(Gujarat News Office) MUMBAI: The bullion market in the Mumbai jewelery market was officially closed today due to Saturday. However, the closed market saw a sharp rise in gold and silver prices behind the world market, market sources said. Imports have risen in the domestic market as prices have soared in the global market and this has led to indications of a significant rise in prices in the jewelery market ahead of the Janmashtami festival. Gold prices in the world market jumped from ૭૯૪ 15 to ૭૯૫ 15 an ounce to ૮ 1,200 an ounce.

Behind gold, global silver also rose by ૫૯ 4.5 to ૬ 2.50 an ounce, crossing the ડો 8.00 mark and closing at ૬ 4.05 to ૨ 2.05 to à«© 2.05. In the United States, the government currently buys about જ 150 billion worth of bonds every month through the Federal Reserve, and there were indications that such purchases would be further reduced, according to a report by the Federal Reserve chairman at the annual conference.

As a result, global dollar prices rebounded over the weekend as the dollar index and bond and treasury yields fell, analysts said.

Meanwhile, in the Ahmedabad jewelery market, gold prices rose by Rs 200 per 10 grams to Rs 2,000 from Rs 2.50 and Rs 700 from Rs 4.50, while Ahmedabad silver prices jumped by Rs 1,000 per kg to Rs 2,000 today.

Meanwhile, there were indications that the deadline for hall marking in the country has been extended from August 31 to November 30. It was also reported that big jewelers would be able to set up their own hallmarking centers.

Meanwhile, the price of platinum in the world market jumped from ૯૯ 60 to ૯૯ 61 an ounce to over ડો 1,000 and was quoted at ૧ 1,012 to à«© 1,015 over the weekend.

Palladium prices rose from ૨૪ 215 to ૮ 215 an ounce and last traded at ૨૪૨૩ 6 to 7. The recent rise in copper prices in the global market has seen a positive impact on global silver prices, with the latter jumping 1.50 to 1.4 per cent. According to world market analysts, higher gold prices have also been supported by rising crude oil prices.

New York's main contract, light sweet crude for delivery in New York, traded at à«­ 2.50 to à«­à«« 6.5 a barrel, while Brent crude traded at 4.50 to à«­à«« 6.5 a barrel. In the global market, the dollar was trading at around Rs 6.5 against the rupee, down from Rs 7.5 in the previous session.

Mumbai gold prices were quoted today at Rs 200 for Rs 30, excluding GST, and Rs 500 for Rs 815, excluding GST. While prices with GST were three per cent higher than this. The price of Mumbai silver was quoted at Rs. While prices with GST were three per cent higher than this.


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