Crude oil rises to three-year high

(Gujarat News Office) MUMBAI: Gold and silver prices fell in the Mumbai jewelery market today. The decline in world market prices was a sign of progress. As the dollar index rose in world markets and bond and treasury yields rose, so did the value of funds in global gold. Global gold prices fell from ૭૫૭ 15 to ૭૫૮ 16 an ounce today, falling below ૭૫ 150 to ૭૪૪ 16 to ૭૪૫ 16.

Behind gold, global silver also fell by ૬૬ 4.5 to ૬૬ 7.5 an ounce from ૨૫ 4.5 to ૨૬ 7.5 today. With the world market collapsing, the import cost has come down at home and as a result, there were more sellers and less buyers in the country's jewelery markets today due to falling prices. In the Ahmedabad jewelery market, gold prices fell by Rs 500 per 10 grams to Rs 900 from Rs 4.50 and Rs 900 from Rs 4.50 per kg, while Ahmedabad silver prices fell by Rs 500 to Rs 2,000 per kg.

Brent crude, meanwhile, rose to ૫૫ 2.50 a barrel from ૫૫ 7.50 a barrel to ૭૭ 2.50 a barrel, while New York crude traded up ૪૭ 4.5 to ૨૩ 7.5 a barrel. Brent crude has traded at a low of ૩૭ 2.8 and a high of ૬૫ 4.5 in the last 12 months. In the last five years, the price has been at a low of ૪૪ 21.8 and a high of ૬ 2.15.

Platinum, meanwhile, was trading at થી 61 to ૯૭૨ 6 an ounce, up from ૯૯૨ 6 to 7 an ounce, while palladium was down ૯૭ 150 to ૯૭ 121 an ounce today. In the Mumbai jewelery market, gold today closed at Rs 705, excluding GST, at Rs 305, which is Rs 7.50, while it is closing at Rs 6, which is Rs 6.50, excluding GST. Prices, including GST, were 5 per cent higher. Mumbai silver prices closed at Rs 30,610 today, excluding GST.