Bullish flash in gold, silver: Dollar falls against rupee in closed market

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Mumbai: The bullion market was officially closed today due to Saturday at the Mumbai jewelery market. Although gold prices continued to rise in the closed market, silver prices also recovered and rose again. World market news was showing bullishness in gold and silver. However, platinum and palladium prices remained under pressure in the global market.

Behind the world market, the prices of gold and silver in the Mumbai market were higher today. The price of gold in the world market increased from 1783 to 1784 to 1794 to 1795 per ounce, and at the end of the week there was news that it was 1793 to 1795 dollars. Behind gold, global silver prices also increased from 22.84 to 22.85 per ounce to 23.25 to 23.26 and lastly 23.22 to 23.23 dollars.

There was a discussion about the buying of funds in gold in the world market again amid the retreat in the global dollar due to weaker than expected retail sales figures and industrial production figures in America. Meanwhile, as the dollar fell in the world market, the market sources said that the price of the dollar fell from Rs.82.86 to Rs.82.77 in the closed market today in the Mumbai currency market.

Meanwhile, in the Mumbai bullion market today, gold prices were trading at Rs.53,950 at Rs.53,782 at 99.50 per 10 grams and Rs.53,950 at Rs.53,998 at 99.90 per kg while Mumbai silver prices were at Rs.66,065 per kg without GST. Today it increased to Rs.66450.

In the Mumbai bullion market, gold-silver prices with GST were 3 percent higher than this price. The price of platinum in the world market was 992 to 993 in the low range of 998 to 999 per ounce and finally 994 to 995 dollars.

The price of palladium in the world market was 1713 from 1780 to 1781 low and finally 1720 to 1721 dollars per ounce. Global copper prices were last seen showing a slow decline. There were indications of a resurgence of Covid cases in China and the impact was seen on platinum and palladium and copper prices.

Meanwhile, there were indications that the central banks of various countries of the world bought a total of around 400 tonnes of gold in the third quarter of this year. In the Ahmedabad jewelery market today, gold prices increased by Rs.200 to Rs.53,500 from 99.50 and Rs.53,700 from 99.90.

Ahmedabad silver was being quoted at Rs.65500. Crude oil prices continued to slow down in the global market. New York crude prices fell from 74.32 a barrel to 73.33 last at 74.29 dollars while Brent crude prices fell from 79.50 to last at 78.29 dollars at 79.04 dollars.

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