Gap in global gold: Rs. 1,000 broken

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MUMBAI: Gold and silver prices fell sharply in the Mumbai jewelery market today. There was news of a world market crash. In the US, where inflation rose to a 20-year high, bond yields rose and the dollar index rose, signaling a widening sell-off of funds in the global gold market.

With the global market collapsing, the import cost of precious metals has come down and this has led to a fall in prices in the jewelery markets. Gold prices in the world market ranged from 15 to ઔ 16 an ounce, down from ૮૨૫ 16 to ૮૨૬ 16 to ૮૩૮ 16. Behind gold, the global silver price also rose from ૯૨ 61.9 to ૯૩ 71.8 to ૨૭ 71.50 to ૬ 71.81.

At home, the gold price in Ahmedabad Jewelery market today is Rs. 100 fell to Rs. 500 and Rs. 200 remained. While Ahmedabad silver price is Rs. 1000 broken Rs. 2000 were spoken.

Silver, platinum and palladium prices have hit the world market again with the resurgence of corona cases in China. Platinum was trading at થઇ 50 to ૯૬૮ 6 an ounce, and palladium was trading at ૮૯૬ 12 to ૯ 1915 to ૬ 1915 an ounce. Global copper prices were quoted at minus 1.10 to 1.15 per cent today. Crude oil prices fell after rising.

China's new demand was feared to decline. New York's main contract, light sweet crude for delivery in New York, traded at ૨૨ 16.8.21 a barrel, while Brent crude traded higher at ૨૪ 16.8 a barrel. However, with the rise in crude prices, the crude oil basket in India has risen to a ten-year high of ૨ 161, market sources said.

In the Mumbai jewelery market today, gold prices fell by Rs 6.50 excluding GST. 2061 and Rs. 203 remained. While Mumbai silver prices fell to Rs. 2051. Mumbai: Gold and silver prices, including GST, were three per cent higher than this.


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