On the eve of Independence Day, the jewelery market is booming

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(Gujarat News Office) MUMBAI: The bullion market in the Mumbai jewelery market was officially closed today due to Saturday. Closed markets, however, saw prices rebound behind world markets. Gold and silver prices rose sharply in the jewelery market on the eve of Independence Day today as import prices rose in the domestic market.

In the Ahmedabad jewelery market, gold prices rose by Rs 200 per 10 grams to Rs 900 from Rs 2.50 and Rs 300 from Rs 4.50, while Ahmedabad silver prices rose by Rs 200 to Rs 300 per kg. Growing markets slowed new sales. There was talk of increased demand. Meanwhile, in the Mumbai Bullion Market, gold prices rose by Rs 215 to Rs 9.30 per liter, excluding GST, to Rs 30, Rs 3.30 per piece from Rs 7.50 to Rs 310 and Rs 320 per liter, including GST, three per cent higher than this.

Mumbai silver prices today were trading at Rs 500, excluding GST, while prices with GST were three per cent higher.

Gold prices in the world market jumped further from ૭૬ 151 to ૭૬૨ 15 an ounce and reached the head of ૭૭૯ 15 to ૭૮ 130 last weekend. Behind gold, global silver prices also jumped by ૨૩ 4.5 to ૪ 2.50 an ounce, last trading at ૭૪ 4.5 to ૭૫ 7.5.

In the US, the Sentiment Index fell 19.20 per cent to close at 61.50, sending gold prices soaring. Such a weak state of consumer sentiment in the United States was seen earlier in April 2020 and earlier during the Great Depression of 2008. This was stated by market experts.

Other precious metals have also risen in the world market behind gold. Platinum rose by ૨૬ 105 to ૨૭ 105 an ounce to ૩૨ 105 to à«©à«© 105 an ounce, while palladium jumped by ૨૬૩૨ 5 to 8 to ૨૬૪૯ 8 to અંતે 20 over the weekend.

In the Mumbai currency market, the rupee depreciated by Rs 2.3 against the rupee in the closed market today, with the dollar depreciating in the global market.

The weekend has seen a softening on the back of rising crude oil prices in the global market. New York's main contract, light sweet crude for delivery in New York, rose to 6.15 a barrel and fell to ૪૪ 4.5 a barrel.

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