Gold and silver trail world markets: Crude oil and copper fall

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Mumbai: The prices of gold and silver rose in the Mumbai jewelery market today. As the world market rose, the import cost at home rose. The price of gold in the world market was 1974 to 1975 high from 1993 to 1994 to 1982 to 1983 dollars per ounce. The global dollar index rose but as the bond yield declined from high, funds continued to buy gold in the world market. Behind gold, the global silver price also increased from 22.77 per ounce to 23.14 to 22.93 to 22.94 dollars.

Meanwhile, at home, silver prices rose by Rs.1,000 to Rs.73,500 per kg in the Ahmedabad market today, while Ahmedabad gold prices increased by Rs.100 to Rs.99.50 to Rs.62,400 per 10 grams and Rs.62,600 to 99.90 per kg. Meanwhile, platinum prices in the global market were at a high of 896 to 897 to $914 to 915 to $913 to $914 an ounce while palladium prices fell from $1135 to $1136 to $1112 to $1113 an ounce. Global copper prices were 0.31 percent lower today. Despite the announcement of new stimulus packages by the Chinese government, global pundits were surprised by the drop in copper and crude oil prices in the world market. Crude oil stocks in the U.S. were showing mixed opinions. According to the American Petroleum Institute, there has been a decrease in crude oil stocks, while according to the International Energy Agency, crude oil stocks in the United States have increased! This question also raised a lot of discussion in the world market today. Meanwhile, Brent crude oil prices were at $87.53 to $87.65 a barrel today at $88.41, while US crude was at $82.56 to $82.67 a barrel at $83.98.

Meanwhile, in the Mumbai bullion market today, gold prices were at Rs.60,740 at Rs.60,321 at 99.50 and Rs.60,984 at Rs.60,564 at 99.90, while Mumbai silver prices were at Rs.71,560 at Rs.71,040 without GST. In Mumbai gold and silver prices including GST were 3 percent higher than this price.

Meanwhile, according to the news from Europe, the European Central Bank has stopped the interest rate hike started from July 2022 and has decided to maintain it instead of raising the interest rate further in today's meeting. There interest rates have been maintained at the level of 4 percent. A 25-year-old record was broken in the recent rate hike.

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