Gold-silver breaks Rs 500 on Dussehra day: demand beats expectations as prices fall

Mumbai: Mumbai bullion market was officially closed today on the occasion of Dussehra. However, after the closed market, prices continued to fall behind the global market. As the dollar index and bond yield increased in the world market and the war between Israel and Palestine slowed down, there were indications of increased selling of funds in gold in the world market. Gold prices in the world market were indicated to be $1953 to 1954 to 1964 to 1965 dollars per ounce from 1977 to 1978 lows.

Behind gold, global silver prices were also lower by 23.11 to 23.12 per ounce at 22.66 to 22.87 to 22.88 dollars. In the Mumbai market today, silver prices were trading around Rs.71500 per kg without GST at Rs.72094 per kg. Gold prices were Rs.60,150 to Rs.60,200 at Rs.60,455 per 10 grams of 99.50 and Rs.60,400 to Rs.60,405 at Rs.60,698 at 99.90 per 10 grams without GST.

In Mumbai gold and silver prices including GST were 3 percent higher than this price. Meanwhile, gold prices fell by Rs.500 to Rs.99.50 to Rs.62000 and Rs.62200 to Rs.99.90 in Ahmedabad jewelery market today.

While Ahmedabad silver prices fell by Rs.500 to Rs.72500. As the world market decreased, the import cost at home came down, the prices in the jewelery markets of the country were reduced today on Dussehra day and due to this, the seasonal demand in the markets was also good, said the informants.

Meanwhile, platinum prices in the world market were 902-903 at 885 an ounce. While the prices of palladium were 1109 to 1110 to 1117 to 1118 dollars in the low of 1124 to 1125. Crude oil prices also continued to fall in the world market. New demand was slow. New events related to war were monitored.

Brent crude oil prices were down 92.03 to $89.86 a barrel today, while US crude prices were down 87.84 to $85.09 to $85.41 a barrel. Global copper prices rose 0.15 per cent after remaining in the red. According to the news from China, the government there has decided to increase the debt and bond issue. However, there were also directives to reduce the fiscal deficit from 3 percent of fiscal food GDP to 3 and a half percent.