In the closed market in Mumbai, silver rose sharply behind the world market to Rs.71150

Mumbai: On the occasion of Ramnavami, the domestic Mumbai Sonachandi market remained closed, but behind the international market, the prices were strongly discussed in the local private sector. In the Mumbai market, silver was traded at Rs 1,150 higher by Wednesday's close. In the closed market, the dollar was weakening against the rupee. Global crude oil remained stable.

At home, the price of 99.90 gold rose to Rs 59,375 in the Mumbai market. With GST, the prices were raised by three percent. The price of ten grams of 99.50 was Rs. 59175. With GST, the prices were raised by three percent. Silver .999 per kg increased to Rs 1150 and was sold at Rs 71150 per kilo. With GST, the prices were raised by three percent.

In Ahmedabad, the price of ten grams of 99.90 gold was Rs. 61,000 and ten grams of 99.50 was priced at Rs. 60,800. Silver .999 per kg was quoted as Rs 71000.

In the world market, gold was quoted at 1970 dollars per ounce late in the evening while silver was quoted at 23.76 dollars per ounce. Platinum was 980 dollars per ounce while palladium was 1449 dollars. The dollar index remained steady at 102.50.

The support for prices did not last long after crude oil stocks fell in the US. A smaller-than-expected drop in crude oil supplies by Russia capped price gains. Nymax crude oil was priced at $72.90 per barrel while Brent crude was priced at $78.28 per barrel.

The money market was closed on the occasion of Ramnavami, but the dollar was 17 paise weaker against the rupee than on Wednesday at Rs 82.17, market sources said.