Bullish in silver: Unfavorable fluctuations in gold: Platinum rises to $900 again


MUMBAI: Today, silver prices rose again in the Mumbai jewelery market. Gold, however, saw a narrowly biased range. The price of gold in the world market was 1634 to 1635 today at a low of 1622 and a high of 1640 to 1635 to 1636 dollars.

Global silver prices were 18.44 to 18.45 an ounce today at a low of 18.23 and a high of 18.78 to 18.60 to 18.61 dollars.

Silver prices rose by Rs.500 to Rs.57500 per kg in Ahmedabad jewelery market today. Ahmedabad gold prices increased by Rs. 100 per 10 grams to Rs. 99.50 to Rs. 51900 and 99.90 to Rs. 52100.

Late in the evening in the world market, there was news that the British pound rose against the dollar in the world market amid indications that the British Prime Minister had resigned.

As the pound increased against the global dollar and the dollar decreased, there was talk of increased buying of gold-reduced funds in the world market. Meanwhile, crude oil prices also rose in the world market.

Global platinum prices were at a low of 894 to 895 to 880 and a high of 899 to 897 to 898 dollars an ounce. Palladium prices ranged from 1983 to 1984 with a low of 1977 and a high of 2050 to 2030 to 2031 dollars. Global copper prices rose around two percent today.

The impact of the copper boom was also positive on global silver. It was discussed that as crude oil increased, the attractiveness of gold also increased. Meanwhile, New York crude oil prices in the world market increased from 83.89 per barrel to 87.56 to 87.32 dollars. Brent crude prices were 91.15 higher at 94.10 to 93.48 dollars.

In the Mumbai market, gold prices were Rs.5027 at 99.50 and Rs.50228 at 99.90 without GST, while Mumbai silver prices rose at Rs.56267 without GST. In Mumbai gold and silver prices including GST were 3 percent higher than this price.

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