Crude jumps to 13-week high

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MUMBAI: Silver prices rose sharply in the Mumbai jewelery market today while gold prices remained soft. There was talk of rising selling of funds in global gold as the Bold Yields and the Dollar Index rose in the global market. Meanwhile, rising crude oil prices in the world market pushed the price to a 12-month high, surpassing ૨૪ 15 a barrel. In the Mumbai currency market, there were indications that the rupee was trading at Rs 7.5 after the dollar rose to Rs 3.5 at one point today. The rupee weakened in the currency market on rising crude. However, the rise in the dollar has seen government banks sell off.

Gold prices in the world market were trading at થી 150 to ૮૫ 151 an ounce today. Global silver prices hovered between ૦૧ 61.2 and ૯૩ 71.8 at ૦૧ 8.01.

According to market analysts, the current daily production of crude oil is falling by about 3 lakh barrels compared to the target set by the OPEC producing countries.

New York's main contract, light sweet crude for delivery in New York, traded at ૨૨ 16.9.60 a barrel and Brent crude traded at 17.8 a barrel, up 17.8.

In Ahmedabad market, silver was quoted at Rs.

Experts were predicting a rise in global crude prices to ૩ 150 soon. In the Mumbai jewelery market, gold today was trading at Rs 305 for GST of Rs 8.50 without GST and Rs 2105 for Rs 2.105 for 7.50. While the price of Mumbai silver today is Rs. 303 to Rs.

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