Dhanteras-to-Dhanteras gold price drops by Rs 3,000

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(Gujarat News Office) MUMBAI: The Mumbai jewelery market witnessed a slowdown in gold and silver prices before Dhanteras, although this year the price of Dhanteras gold has remained as low as Rs 2,000 per 10 grams as compared to last year's Dhanteras gold. Market analysts were hoping for a rise in gold today. In silver, however, prices have risen to around Rs 1,200 per kg this year as against Dhanteras last year, market sources said.

Last year, the gold price in the Mumbai market was Rs 305 at Rs 8.50 and Rs 305 at Rs 7.50 excluding GST. 6 chakas with GST were high. Meanwhile, Mumbai silver prices were at Rs 200 per kg excluding GST last year. It has been at Rs 715 this year while prices with GST have been 5 per cent higher

Meanwhile, gold was trading at ૭૮૩ 12-13 an ounce in global markets today. Global silver, meanwhile, traded at ૯ 2.50 to ૯ 4.01 an ounce, up from ૯ 2.50 to ૯ 2.31 an ounce. Palladium prices jumped from ૪ 208 to à«« 205 to આજે 205 to ૬૭ 205 today, while platinum prices were trading at ૨૨ 103 to à«« 1031 from ૨૨ 105 to ૨૩ 107 today. The two-day meeting of the US Federal Reserve is scheduled for Tuesday and Wednesday.

The meeting focused on the decision to reduce bond buying. Meanwhile, gold prices in the Ahmedabad market today remained calm at Rs 2.50 per ounce and Rs 200 per ounce, while Ahmedabad silver fell by Rs 200 to Rs 200 per kg.

In the Mumbai market, excluding GST, gold was trading at Rs 8 per ounce at Rs 2.50, Rs 8 per ounce at Rs 4.50 and Rs 5 per ounce with GST. Mumbai silver prices today were at Rs 715, excluding GST. While prices with GST were 5 per cent higher. Meanwhile, crude oil prices rose by about 1 per cent to ર્ક 2.7 a barrel in New York and ૬૫ 4.5 a barrel in Brent crude.

Ahead of a meeting of OPEC and allies on Thursday, the United States, Japan and India have called on crude producers to increase production. The market was now watching to see how crude producers would respond to the request. Meanwhile, copper prices in the global market were reported to be in the range of 0.7 to 0.30 tara plus this evening, despite weakening manufacturing data from China.

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