Break down in gold: Decline in crude prices too

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MUMBAI: Gold and silver prices rose sharply in the Mumbai jewelery market today. Workers working in South Africa's gold mines were reported to have come under one umbrella in support of the demand for wage increases. Experts were also pointing out the possibility of a strike following this.

Gold prices in the world market rose from ૭૩૨ 15 to ૭૩૩ 18 an ounce and were at ૭૪૨ 16 to આજે 12 today. Global silver prices also rose to 4.5 to ૨૯ 7.5.

In the Ahmedabad Zavanri market, gold prices rose by Rs 200 per 10 grams to Rs 200 from Rs 4.50 and Rs 200 from Rs 3.50 today, while Ahmedabad silver remained steady at Rs 31,000 per kg. Global crude oil prices fell nearly half a percent today.

New York crude was trading at ૮ 6.50 a barrel this evening. Brent crude was trading at 4.5. In the Mumbai jewelery market, gold today was trading at Rs 305 per ounce, excluding GST, while it was closing at Rs 205, up from Rs 8 per ounce. Mumbai silver prices today were at Rs 5, excluding GST.

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