Gold breaks Rs 1000 in two days: Crude rises above $95: Rupee steady

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Mumbai: Gold and silver prices fell further in the Mumbai jewelery market today. New demand was slow. The sales in the market increased as the world market tumbled and the import cost at home came down. Gold prices in the world market were 1890 to 1891 to 1892 dollars per ounce from 1912 to 1913 lows.

In the world market, the dollar index and bond yield increased, there were indications of increased selling of funds in gold. Behind gold, global silver prices were also lower by 23.02 to 22.67 to 22.78 to 22.79 dollars per ounce. Meanwhile, in the domestic Ahmedabad market today, the price of gold fell by Rs.500 per 10 grams to Rs.99.50 and Rs.60,500 per 99.90. Gold prices in Ahmedabad market fell by Rs.1000 in two days. Ahmedabad silver prices today fell by Rs.800 per kg to Rs.72,200. Ahmedabad silver prices fell by Rs.1800 in two days. Meanwhile, crude oil prices rose in the global market today even as pundits expressed surprise as gold prices collapsed. Brent crude prices rose by 92.75 per barrel to 95.60 to 95.48 dollars, while US crude prices rose by 89.27 per barrel to 92.36 to 92.23 dollars. There was a situation like short supply in crude oil in the world market. However, instead of the expected decrease of 3 lakh barrels of crude oil stock in America, in fact there has been an increase of 16 lakh barrels in the stock, said the American Petroleum Institute.

In the Mumbai currency market today, dollar prices continued to hit an overall higher head amid sideways volatility against the rupee. Dollar price of Rs.83.24 opened at Rs.83.22 this morning, the lowest price was at Rs.83.18, then the highest price was at Rs.83.25 and the last closing price was at Rs.83.23.

Meanwhile, platinum prices in the world market were 907 to 908 to 900 to 905 to 906 dollars an ounce. While palladium prices increased from 1227 to 1228 per ounce to 1254 to 1246 to 1247 dollars.

In the Mumbai bullion market, gold prices were Rs.58,220 at Rs.58,697 at 99.50 and Rs.58,454 at Rs.58,933 at 99.90 without GST. While Mumbai silver prices were Rs.71557 to Rs.70930 without GST. In Mumbai gold and silver prices including GST were 3 percent higher than this price.

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