A move in favor of reduction in the precious metal, a fall of Rs 2000 in silver

Rupee strengthened against global currencies including dollar

MUMBAI: Precious metal prices retreated significantly as the dollar strengthened in global markets on signs that talks on raising the US debt ceiling on Monday were positive. There was a big bang in Sonachandi at home behind Vishwa Bazar. Ahmedabad Silver Rupees 2000 was broken.

In the domestic Mumbai market, the non-GST price of gold at Rs 99.90 per ten grams, which was Rs 60,829 on Monday, fell by over Rs 400 to Rs 60,342 on Tuesday. The price of ten grams of 99.50 gold was Rs 60100. With GST, the prices were raised by three percent. The non-GST price of silver. With GST, the prices were raised by three percent.

In Ahmedabad, gold of 99.90 was priced at Rs 62,300 per ten gram while the price of ten grams of 99.50 was priced at Rs 62,100. Compared to Monday, gold was quoted at Rs 500 lower. Silver .999 per kg was reduced from Rs 73,500 to Rs 2,000 to Rs 71,500.

In the world market, gold was priced at $1958 per ounce while silver was priced at $23.14 per ounce. Among other precious metals, platinum was at $1,062 while palladium was at $1,470 per ounce.

The rupee strengthened against global currencies in the forex market at home. With the decision to withdraw Rs 2000 notes, the economy is expected to improve with the assumption that the purchase of high value goods will increase. The dollar fell by 3 paise to Rs 82.80, the pound fell by 53 paise to Rs 102.54, while the euro fell by 35 paise to Rs 89.20. The rupee is being supported by dollar inflows of foreign funds in the equity market.