A gap of Rs.1000 in silver and a drop of Rs.400 from high in gold

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MUMBAI: In Mumbai jewelery market today bullion market saw a break in gold and silver prices and the prices came down quickly from the highs. World market news showed a quick retreat from higher prices in precious metals. Due to the collapse of the world market, the import cost at home came down and the jewelry markets today had to sell profitably due to the lack of new demand.

After the half percent interest rate hike in America, the news of half percent interest hike in Britain was received today. Amid the strength of the global dollar, the selling of funds increased due to the rise in gold in the world market.

Global gold prices were guided to range from 1773 to 1774 to 1777 to 1778 dollars an ounce, down from 1806 to 1807 tumbles. Behind gold, global silver prices were also down from 23.62 to 23.63 to 22.96 to 23.15 to 23.16 dollars an ounce.

Meanwhile, in the Ahmedabad jewelery market today, silver prices fell from Rs.1000 per kg to Rs.66 thousand, while Ahmedabad gold prices fell from Rs.400 per 10 grams to Rs.99.50 to Rs.55200 and 99.90 to Rs.55400.

The price of platinum in the world market was 1029 to 1030 dollars per ounce, today it was 1006 to 1018 to 1019 dollars, the price of palladium was 1866 to 1888 to 1889 dollars in the low of 1921 to 1922. Global copper prices were 1.15 to 1.20 percent softer today. As the global dollar rose, prices of various commodities, except crude oil, showed a retreat in the world market today. Crude oil rose again.

New York crude oil prices rose to $77.77 to $77.33 per barrel from $75.97 a barrel, while Brent crude rose to $83.18 to $82.75 from $81.29 a barrel. Interest rates in America have risen to a 15-year high, while interest rates in Britain have risen to a 14-year high.

In the Mumbai bullion market today, gold prices were Rs.53,679 from Rs.54,169 at Rs.99.50 without GST. While the price of 99.90 was Rs.54386 and Rs.53894. Mumbai silver prices were Rs.66568 from Rs.67642 without GST. In Mumbai gold-silver prices including GST were three percent higher than this price.

Meanwhile, the government today reduced the dollar customs exchange rates for importers and the impact on the jewelery market was also seen today as the effective import duty of gold and silver levied in the country was also reduced.


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