Gold and silver surge as rupee tumbles rapidly

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Mumbai: Gold and silver prices went up in Mumbai jewelery market today. In the currency market, as the rupee fell and the dollar rose, the jewelery market saw a boom due to the increase in import costs. Prices in the world market rose again after falling. In the Ahmedabad jewelery market today, the price of gold increased by Rs.300 per 10 grams to Rs.51,500 at 99.50 and Rs.51,700 at 99.90 while the price of Ahmedabad silver rose by Rs.500 to Rs.58,000 per kg.

Gold prices in the world market were indicated to be 1655 to 1655 per ounce from 1675 to 1676 and 1680 to 1681 to 1680 to 1681 dollars per ounce. The price of nuclear silver was also 19.62 to 19.63 at the low of 19.24 and at the high of 19.86 to 19.74 to 19.75 dollars per ounce.

The global gold prices went down to 1655 dollars at one stage today as America increased the interest rate and raised the dollar in the world market, but then there were indications that the global gold prices have increased again as the funds re-entered.

Global silver also rallied after falling behind gold. The price of platinum in the world market was 937 to 938 in the low 894 and in the high 915 to 911 to 912 dollars. There was news of palladium prices falling from 2087 lows of 2191 to 2192 to 2185 to 2170 to 2171 dollars.

Copper prices were 1.05 percent plus in the world market today. Global crude oil prices saw a sideways fluctuation. New York crude prices were 82.40 to 82.40 dollars per barrel and 84.80 to 84.49 dollars per barrel. While the price of Brent Crude was 92.17 today at a low of 89.30 and a high of 91.65 to 91.45 dollars.

Meanwhile, in the Mumbai jewelery market today, gold prices stood at Rs 49,407 at 99.50 and Rs 49,694 at 99.90 and Rs 49,894 at Rs 49,606 without GST, while Mumbai silver prices stood at Rs 56,667 at Rs 57,343 without GST. In Mumbai gold and silver prices including GST were 3 percent higher than this price. Today, the price of the dollar rose to close to Rs.81 against the rupee in the Mumbai currency market.


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