Ahmedabad gold rose Rs.64000, silver crossed Rs.75000

- Indications that China has bought 17 to 18 tons of gold

- Global dollar index fell to 104, hitting a three-month low, as funds bought gold in global markets

Mumbai: Due to the decrease in the global index of the dollar against various major currencies and the yield of US bonds, there were indications of increased buying of funds in gold in the world market. Behind these reports was a bullish trend in domestic bullion markets. Here in the Ahmedabad gold-silver market, gold rose to Rs.64,000, while silver rose to Rs.75,000. As the import cost at home increased due to the rise in the world market, the bullish trend continued in the jewelry markets of the country today.

The bullion market was officially closed at the Mumbai jewelery market today, but gold and silver rallied ahead of the global market during the closed market. The price of gold in the world market rose from 2000 to 2001 per ounce to the highest price in 2018 to 2012 to 2013 dollars.

Behind gold, global silver prices also increased by 24.33 to 24.82 from 24.75 to 24.76 dollars.

In the Ahmedabad jewelery market, gold prices increased by Rs.300 per 10 grams to Rs.99.50 to Rs.63800 and Rs.64000 to 99.90. Ahmedabad silver price increased by Rs.1000 per kg to Rs.75500. In the world market, the dollar index fell to 103.50, a new low level of 3 months was seen in this index.

In the Mumbai currency market today, the dollar price against the rupee was trading around Rs.83.34 to Rs.83.40 to Rs.83.41 to Rs.83.38 to 83.39. The market was watching the inflation figures released this week in America and Europe. Meanwhile, crude oil and copper prices were under pressure in global markets today as industrial profit figures in China weakened. Global copper prices were 0.50 to 0.55 percent softer today.

In the world market, Brent crude oil prices were down 80.58 to 79.68 dollars a barrel, while US crude prices were down 75.54 dollars to 74.06 to 74.25 dollars. The market was keeping an eye on Thursday's meeting of the Organization of the Crude Oil Producing Countries (OPEC). In this meeting, the market was watching the decision to cut production.

Meanwhile, gold prices rose to a 6-month high in the global market today. The price of platinum in the world market was 936 to 937 dollars from 942 to 935 per ounce. Palladium prices increased by 1074 to 1090 to 1085 to 1086 dollars per ounce.

According to the world market guidelines, China bought around 17 to 18 tonnes more gold in the last week. There were indications that the Chinese government is currently buying its own currency, the yuan, against the dollar.

Meanwhile, gold prices in the Mumbai bullion market today were Rs 61,700 at Rs 61,400 at 99.50 and Rs 61,950 at Rs 61,650 at 99.90 without GST. While Mumbai silver prices were Rs.74,000 without GST at Rs.74,800. In Mumbai gold and silver prices including GST were 3 percent higher than this price.