Precious metal pulls back in global markets as dollar strengthens: steady trend at home

-


MUMBAI: As the dollar firmed in the global market, the precious metal retreated. Fund houses are choosing to refrain from making big plays in gold ahead of the release of economic data in the US. Despite the fall in the world market, domestic gold and silver prices remained relatively stable. The rupee remained stable against the dollar. Prices were supported by calculations of higher fuel demand due to holidays in China.

The non-GST price of 99.90 ten gram gold stood at Rs 6078 in the Mumbai jewelery market. With GST, the prices were raised by three percent. 99.50 Ten grams of gold was priced at Rs 59837.

The non-GST price of silver .999 per kg closed at Rs 74,075, down by Rs 315 from Monday. With GST, the prices were raised by three percent.

The prices were stable in the Ahmedabad market. The price of 99.90 ten grams of gold was Rs 61900 while the price of ten grams of 99.50 was Rs 61700. Silver 999 was priced at Rs 74000 per kg.

In the world market, one ounce of gold was quoted at 1979 dollars late in the evening. Gold sold off at a higher head after going above $2001. Silver fell below $25 and was trading at $24.57 late in the evening. In addition to the consumer confidence report, quarterly GDP numbers are to be released in the US this week, which is considered important for the decision of the interest rate by the Federal Reserve.

Fund houses have currently adopted a wait-and-see policy. Another precious metal platinum fell by $18 to $1,071 while palladium fell by $45 to $1,494.

In the domestic money market, the dollar remained stable at 81.92 rupees. The pound increased by 30 paise to Rs 102.13 and the euro increased by 31 paise to Rs 90.43. The dollar index remained firm at 101.60.

In global crude, Nymax WTI crude oil prices remained steady at $78.19 per barrel while ICE Brent remained steady at $82.15 per barrel. Prices are being supported by expectations of an increase in fuel demand due to a possible increase in the number of holiday tourists in China.


Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more