Bilateral fluctuations in gold-silver: Palladium fell four percent

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(Gujarat News Office) MUMBAI: Gold prices in the Mumbai jewelery market today fell again after rising. Silver also saw two-way fluctuations. Gold prices in global markets were on a downward trend today, but in the domestic currency market, the rupee continued to strengthen against the dollar, market sources said.

Gold prices in the world market were at ૭૮૭ 16 to આજે 17 an ounce today. Behind gold, global silver prices also fell by ૨૨ 6.41 an ounce to ૨૨ 2.8 an ounce, from à«­ 2.15 to à«® 2.15 an ounce. In the Mumbai jewelery market today, the price of gold with GST of 10 grams has gone up to Rs. 2013 was closing when the price of 8.50 was Rs. 4,150 to Rs. 515 while the price with GST was 3% higher.

Meanwhile, the price of silver in Mumbai today closed at Rs 3050 per kg, excluding GST, at Rs 2060, while the price with GST was 5 per cent higher.

In the Ahmedabad jewelery market today, gold was trading at Rs 30 for 2.50 and Rs 70 for 2.50 while Ahmedabad silver was trading at Rs 2,000.

Markets were watching the Federal Reserve meeting in the US on Wednesday (today) to see what signals are being given about the rise in interest rates and the decline in bond buying.

Meanwhile, platinum prices in the world market were quoted at થી 21 to ના 5 an ounce of ૯૪૩ 5 to જ્યારે 6 an ounce, while palladium prices fell by 3% from ૭૫૬ 12 to à«­à««à«­ 15 and fell below à«­ 1,400 today, hitting 12 to 15.

Meanwhile, crude oil prices in the world market today were fluctuating in both directions. New York's main contract, light sweet crude for delivery in New York, traded at ૩૫ 61.8 to ૪ 71.50 a barrel, while Brent crude traded at ૪ 4.50 to ૪૫ 7.5. OMICPON will not have a significant impact on crude oil demand and demand will remain high between January and March, OPEC sources said. JP Marg was also reported to have projected higher demand for crude.

However, according to Saudi Arabia's oil minister, global crude oil production is expected to decline by about 50 per cent by the end of the current decade. New investment in crude oil is declining, he said. Copper prices remained calm in world markets today.

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