The slowdown in gold halted in the wake of the global financial crisis

(Gujarat News Office) MUMBAI: Gold prices in the Mumbai jewelery market remained on a slow recovery today. In silver, however, the recession continued. The price of gold in the world market was ૭૫૪ 15 to ૭૫૫ 18 per ounce and today it was ૭૫૫ 12 to ૭૫૬ 15. Global silver prices were reported at ૩૮ 4.5 to ૨૯ 6.5 an ounce, up from ૩૮ 4.5 to ૩૯ 7.5 an ounce.

Market players were watching the two-day meeting of the US Federal Reserve on Tuesday and Wednesday. The currency market and the bullion market were keeping a close eye on the hints given at the meeting about reducing bond buying.

Meanwhile, global gold prices have been on a downward spiral as US and European stock markets crashed today on the back of China's financial crisis. European stock markets tumbled to a two-month low.

Meanwhile, in the Manumbai jewelery market, gold prices today closed at Rs 305, up from Rs 9,050 per 10 grams, excluding GST, and closed at Rs 6, up from Rs 815 per 10 grams at Rs 8. While the prices of GST were 7 per cent higher. Meanwhile, Mumbai silver prices today closed at Rs 315 per kg, excluding GST, at Rs 30,000 per kg, while prices with GST were up 5 per cent.

Platinum, meanwhile, traded higher at ૯૪૨ 6- 7 a barrel today. While the price of palladium fell from ૭ 4,000 in 2014 to ૨ 15 to ૯૯૮ 16, there were indications. Meanwhile, silver fell by Rs 200 to Rs 21,000 in Ahmedabad today. Gold prices were quoted at Rs 2.50 per ounce and Rs 200 per ounce.

Meanwhile, copper prices in the global market fell by two per cent today on the back of China's weakness, which also had an impact on global silver. Iron ore prices fell below ડી 100 a tonne. Crude oil also fell 2% to ર્ક 70.5 a barrel in New York and બ્રે 4.5 a barrel in Brent.

China's financial crisis has weighed on crude prices, and there have been indications of an increase in the number of oil-producing rigs in the United States, with the number of such rings rising by nine to 218.