Saudi crude rises 3%

Global gold declines as bond yields and dollar index rise

(Gujarat News Office) MUMBAI: Gold and silver prices were on a downward trend in the Mumbai jewelery market today. World market news was booming. However, the fall in global gold was limited as crude oil prices rose sharply by 3.5 per cent today.

Gold prices in the world market, which were at ૭૮૩ 15 to ઔ 18 an ounce, were down to ૭૭૭ 15 to આજે 12 today. As bond yields rose in the US and the dollar index rose, gold rallied in world markets.

Meanwhile, global silver prices also fell from ૫૨ 4.5 to ૫૩ 7.5 an ounce to લર 4.5 to ૩૩ 6.5 an ounce. There was news that China had reduced the cash reserve ratio for banks to increase liquidity in the currency market by 1.50 trillion yuan. Now the eyes of the world market are on the US inflation figures.

In the Mumbai market today, the price of gold, excluding GST, was Rs. While the price of 2.50 was Rs. While prices including GST were 3% higher. Meanwhile, Mumbai silver was trading at Rs 305 per kg, excluding GST. Prices, including GST, were up 5 per cent. European stocks were up. Meanwhile, crude oil prices rose against the backdrop of falling gold prices in the world market following signs that the new omicron virus was less severe than feared.

New York's main contract, light sweet crude for delivery in New York, traded at ૪૩ 4.5 a barrel and Brent crude traded at ૬ 4.05 a barrel. Saudi Arabia's directive to raise crude oil prices for January has also had a positive effect on the crude oil market, market sources said. Copper prices rose 0.50 per cent in world markets today.

Platinum, meanwhile, was trading at ૯૩૬ 5 to આજે 7 an ounce today. While the price of palladium ranged from ૮ 1,215 to ૮ 1,215, the price dropped below ૮ 1,200 to ૭૭૮ 12 to ૭૭૯ 12. In the Ahmedabad jewelery market, gold was trading at Rs 900 at Rs 2.50 and Rs 800 at Rs 7.50. While Ahmedabad silver was trading at Rs 500 today.