Precious metals rangebound globally, domestic gold and silver firm

-


Mumbai: Following the improvement in the precious metal in the global market, gold and silver prices closed higher at home as well. Ahead of next week's meeting of the Federal Reserve, gold has once again shown a level of $2,000 in the world market. Weakness in dollar supported gold prices. Crude oil prices held steady as US stocks fell more than expected. The rupee remained strong against global currencies at home.

The non-GST price of 99.90 ten gram gold in the Mumbai jewelery market, which was Rs 6078 on Tuesday, closed at Rs 60431 on Wednesday, behind the world market. An improvement of Rs 353 was seen in gold. 99.90 gold ten grams was Rs 60189. With GST, the prices were raised by three percent. The non-GST price of silver .999 per kg which was seen at Rs 74,075 on Tuesday closed at Rs 74,200 on Wednesday. There was a modest improvement of Rs 125 in silver.

Ahmedabad 99.90 gold was priced at Rs 62,200 per ten gram while 99.50 gold was priced at Rs 6,200 per ten gram. Silver .999 per kg used to be Rs 74500.

Gold is seeing range bound in the world market. It rebounded from Tuesday's lows of $2002 per ounce and settled at $1996 late in the evening. Silver was quoted at $25 per ounce. Another precious metal platinum was at $1105 while palladium was at $1523 per ounce. The dollar index fell to 101.33 and the fund bought gold.

Despite crude oil stocks falling more than expected in America, crude oil prices did not find support. Stocks were reported to have declined by 61 lakh barrels against expectations of 15 lakh barrels. A decline in stocks indicated that consumption in the US is rising. However, Nymax WTI crude oil was quoted at $76.96 per barrel while ICE Brent crude oil was quoted at $80.33.

The rupee remained strong against global currencies in domestic money markets. The dollar fell by 17 paise to Rs 81.76, the pound fell by 15 paise to Rs 102.01 and the euro fell by 11 paise to Rs 90.26.


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