Silver rises against fall in gold: The surge in crude felt like a surge

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Mumbai: The weather was mixed in Mumbai jewelery market today. Gold prices were soft while silver rose. Gold prices in the world market were indicated to have dropped to 1733 to 1738 to 1739 dollars today from 1746 to 1747 dollars an ounce. Selling of gold funds increased in the world market.

Global gold prices came under pressure as the global dollar index rose. The price of silver in the world market was 20.91 to 21.21 to 21.22 dollars in a low of 21.23 to 21.24 per ounce. At home today, gold prices remained soft behind the world market. In the Ahmedabad jewelery market, gold prices fell by Rs. 100 per 10 grams to Rs. 99.50 to Rs. 53800 and Rs. 54000 to 99.90. However, Ahmedabad silver prices increased by Rs.500 per kg to Rs.61500.

The price of platinum in the world market was 989 to 991 to 992 dollars per ounce in the low range of 996 to 997 while palladium prices were reported to be 1857 to 1883 to 1884 dollars in 1867 to 1868. In order to save the business industry in China, there were rumors that the government was thinking of reducing the reserve ratio for banks. If this happens, money liquidity will increase there, world market experts said.

Meanwhile, crude oil prices in the global market came under pressure again in the evening after rising. New York crude oil prices were at $78.38 to $79.16 a barrel after hitting a high of $81.95 a barrel at $81.13. The price of Brent Crude was 88.73 high at 89.56 and low at 85.39 to 86.32 dollars.

The American Petroleum Institute said that the stock of crude oil in the United States decreased by 48 lakh barrels, and the prices in the world market were raised. But then there were indications of crude oil prices falling again as new demand from China slowed.

Meanwhile, gold prices in the Mumbai market today rose from Rs.52,303 at Rs.52,303 to Rs.52,208 at 99.50, while gold prices at Rs.99.90 rose from Rs.52,350 to Rs.52,418 at Rs.52,513 without GST. Mumbai silver prices were Rs 61,243 to Rs 61,700 today without GST from Rs 61,551.


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