Gold bulls advance: Crude rebounds above 82 82

(Gujarat News Office) MUMBAI: Gold prices continued to move higher in the Mumbai jewelery market today. While silver prices fell. Gold prices in the world market today rose from ૭૫૭ 15 to ૭૫૮ 16 an ounce to ૭૬૪ 16 to 16 an ounce. Global silver prices were at ત 4.5 to ૬૭ 7.5, up from ત 7.51 to ૬૨ 7.5.

Domestically, gold prices have seen a rally behind the world market. In the Ahmedabad jewelery market, gold prices rose by Rs 100 per 10 grams to Rs 200 from Rs 4.50 and Rs 200 from Rs 3.50 per kg, while Ahmedabad silver fell by Rs 200 to Rs 2,000 per kg.

Funds remained active buyers in global gold as the dollar index fell sharply in world markets. Unemployment claims in the United States were estimated at 6,000 to 7,000, while there was news that the risk of default was averted by increasing the debt ceiling in short-term deals.

Meanwhile, the rise in global natural gas prices to post-2008 highs was a sign of a surge in global crude oil prices and a positive impact on global gold prices.

Brent traded higher at 4.50 a barrel, up from ૪ 4.50 a barrel today. New York's main contract, light sweet crude, was quoted at ૮૫ 4.5 to ૯ 7.50.

World markets were also divided over whether the United States would sell oil from its reserves. Job growth in the US was expected to reach five lakh but instead such growth was only one lakh six thousand this evening when the world market players were stunned.

Platinum, meanwhile, traded at ૧ 5,018 to ૫ 1,015 an ounce in the global market today, while palladium jumped from ૮ 1,305 to ૯ 1,305 to cross ૨ 2,000 and traded at ૨૯ 203 to ૩ 5,050.

In the Mumbai market, gold was priced at Rs 5, excluding GST at Rs 30 and Rs 8.15, excluding GST, while silver was priced at Rs 21,050, excluding GST, at Rs 310 and Rs 31,050. 5 percent were higher.