Crude rose to $81, but gold and silver headwinds

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Mumbai: Bullion market was officially closed today due to Saturday in Mumbai jewelry market. However, in the closed market, there were indications that the price of gold and silver has continued to decline. World market news was showing a retreat. In the Ahmedabad market today, silver prices fell by Rs.500 to Rs.75,000 per kg, while Ahmedabad gold prices fell by Rs.100 per kg to Rs.99.50 to Rs.61,100 and 99.90 to Rs.61,300.

Gold prices in the world market ranged from 1963 to 1964, 1956 to 1957, and lastly at the end of the week, there were indications of 1961 to 1962 dollars per ounce. Behind gold, global silver prices were at a low of 24.75 to 24.58 to 24.61 to 24.62 dollars an ounce. In the Mumbai market, gold prices without GST were Rs.59,150 at Rs.59,217 at 99.50 and Rs.59,300 at Rs.59,455 at 99.90 while Mumbai silver prices were at Rs.74,622 at Rs.74,150 without GST.

In the closed market today in the Mumbai currency, the dollar price against the rupee rose to Rs.82.05 from a high of Rs.81.95, and lastly the price was trading between Rs.82.02 to 82.03. As the dollar rose in the world market and crude oil also rose, the rupee weakened against the dollar in the currency market at the closed market today, market sources said.

Crude oil prices in the global market fluctuated between short supply and rising demand. The price of New York crude increased from 76.73 per barrel to 77.29 to last at 77.07 dollars, while the price of Brent crude increased to 81.24 to 81.07 dollars from 80.72 per barrel.

Meanwhile, platinum prices in the world market increased from 961 to 962 to 968 to 969 to 965 to 966 dollars while palladium prices from 1300 to 1301 lows were 1280 to 1281 to 1295 to 1296 dollars. Global copper prices were last down 0.43 percent.

Meanwhile, according to news from Switzerland, Swiss gold exports from there fell by around 23 percent in June compared to May. From there, a significant retreat in the export of Swiss gold especially to China and India has been seen in the month of June. However, there were indications of a 39 percent increase in gold exports to Turkey in June.

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