Retreat in gold: Silver, however, recovered from the shock and rose again

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(Gujarat News Office) MUMBAI: Gold prices continued to decline in the Mumbai jewelery market today as silver prices rebounded and rebounded. Gold prices in the world market fell further from ૮૪૫ 15 to ૮૪૬ 12 an ounce and were reported to be at ૮૩૯ 15 to આજે 120 today.

Silver in global markets traded higher at ૬ 4.31 an ounce, up from ૬૨ 7.5 an ounce, but rose to ૭ 2.81 an ounce from 4.5 an ounce. In the Ahmedabad jewelery market, silver rose by Rs 200 per kg to Rs 200 today. Platinum, meanwhile, rose by ૩૪ 103 to ૩૫ 105 to ૪ 1,030 to ૪ 1,081 today, while palladium was quoted at ૬ 203 to ૬૮ 203, up from ૬ 2,051 to ૬૨ 203.

In the Mumbai market today, gold was trading at Rs 5 per 10 grams excluding GST, Rs 2.50 per ounce, Rs 2.50 per ounce was trading at Rs 4 per ounce and prices were 8 per cent higher with GST. Meanwhile, Mumbai silver prices remained unchanged at Rs 500, excluding GST, while those with GST were up 3 per cent. Ahmedabad gold prices were at Rs 30,700 at Rs 2.50 and Rs 30,700 at Rs 4.50.

Meanwhile, funds continued to sell in gold as the dollar index rose in world markets today. Crude oil prices were hitting a three-week low today. New York's main contract, light sweet crude, was trading at ૮૭ 4.5 a barrel and Brent crude was trading at 4.5 a barrel.

Market inflows, however, remained sluggish amid indications that supply of crude oil from government quantities would be cut off in the open market by the United States, Japan and China. Copper prices were in the global market late this evening at 0.8 to 0.50 per cent minus.

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