Gold broke again as job growth in the US came to a disappointing level

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(Gujarat News Office) MUMBAI: The bullion market in Mumbai's jewelery market was officially closed today due to Saturday. However, the weather was mixed in the closed market. World market news showed two-way fluctuations. In the Ahmedabad market, gold rose by Rs 100 per 10 grams to Rs 300 from Rs 4.50 and Rs 200 from Rs 4.50 per kg, while Ahmedabad silver rose by Rs 200 to Rs 300 per kg.

In the Mumbai market, gold excluding GST was trading at Rs 30-9 per ounce of Rs 2.50 and Rs 30-3 per ounce of 6.50, while silver was trading at Rs 31,600 with a price of Rs 21,050. Prices with GST remained three per cent higher.

Meanwhile, as the festive season saw gold prices soaring, the country's previous gold price of ડો 4 an ounce was a two-dollar discount. In China, such premiums were ૨ 15, but now they are à«® 5 to 7.

Meanwhile, there was news of a sharp break after gold prices rebounded in world markets. Gold prices rose from ૭૬૪ 15 to à«­à«® 17 an ounce to થી 150 to à«­à«® 121 an ounce and fell again to à«­à««à«­ 12 to અંતે 15 over the weekend.

Gold prices rebounded on the back of weaker-than-expected job growth data in the US. But then there were indications that prices were going down again. Behind gold, global silver also traded higher at ૬ 4.31 to ૬૨ 7.5 an ounce, up from ૭ 7.15 to ૮ 6.15 and લર 4.5 to ૬૮ 7.5 an ounce.

At the back of the global market, gold and silver prices fell again after rising. Job growth figures for non-farm payrolls in the U.S. were expected to reach five million. But in fact, when such growth figures were only 1 lakh 3 thousand, the dollar index in the world market fell and the price of gold jumped like a spring, but then the rise did not last and the price fell.

There were indications that such job growth in the US was 10 lakh 40 thousand in July and 3 lakh 5 thousand in August and now it is only 1 lakh 3 thousand in September. Platinum prices in the world market rose from ૪ 105 to ૨૯ 105 from ૪ 1013 to ૫ 1015, while palladium prices rose from ૨૯ 203 to ૩ 5,050 to ૨ 205 to ૭૯ 205 to ૮ 5,050. Global copper prices were up 0.50 to 0.9 per cent over the weekend.

Meanwhile, global crude oil prices were last seen at થઈ 60, or ૩૫ 6.5, a barrel of New York's crude oil at ૮૬ 6.5 a barrel, while Brent crude was reported at ૮૩ 6.5 to ૩૯ 7.50, a barrel of 4.5. World crude prices have risen by 5 to 20 per cent this year, with some experts predicting a price of 100. The rise in crude has had a positive effect on gold prices.


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