Gold-silver shakes up: Rs.300 crore fund poured into gold ETF

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Mumbai: Gold and silver prices rose again in the Mumbai jewelery market today after initially opening low. Gold prices in the world market were at a high of 1961 to 1962 dollars per ounce from 1967 to 1968 to 1966 to 1967 dollars. In the Mumbai market today, the price of gold rose to Rs.59,196 from Rs.59,150 at 99.50 to Rs.59,196 without GST, while the gold price at 99.90 rose to Rs.59,290 from Rs.59,300 to Rs.59,434.

Mumbai silver prices were Rs 74,190 to Rs 74,190 from Rs 74,044 per kg without GST. Silver prices in the world market were 24.48 to 24.59 to 24.60 dollars from 24.61 to 24.62 dollars per ounce. Platinum prices rose from 965 to 966 to 960 to 963 to 964 dollars an ounce while palladium prices from 1295 to 1296 to 1283 to 1294 to 1295 dollars.

Global gold prices were having a positive effect as crude oil increased in the world market. Global market players were showing surprise as the global gold prices increased despite the increase in the global dollar index. The market was watching the interest rate hike in America on Wednesday.

Meanwhile, global copper prices were 0.09 percent softer today. Meanwhile, crude oil prices continued to rise in the global market. The price of New York crude was 77.07 to 77.84 to 77.62 dollars a barrel today, while the price of Brent crude was 81.07 to 81.84 to 81.58 dollars.

There were indications of sustained demand against short supply in crude. Meanwhile, in Ahmedabad jewelry market today gold prices fell by Rs.100 to Rs.99.50 to Rs.61,000 and 99.90 to Rs.61,200 while Ahmedabad silver prices fell by Rs.500 to Rs.74,500 per kg. Meanwhile, there were signs of a resurgence in inflows into gold ETFs in the country. In the quarter ended June end, there was news that such funds increased by Rs.298 crore.

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