Gold-silver rally continues: Dollar falls sharply against rupee

Global gold soared higher and reached close to 2100 dollars!

Mumbai: The prices of gold and silver rose in the Mumbai jewelery market today. The boom continued. As the world market increased, import costs at home increased, prices increased in the jewelry market due to weddings and festivals, and the impact on new demand was seen, said market experts. In the world market today, the price of gold rose to 2088 dollars per ounce, then there was news that the price was 2073 to 2074 dollars. Globally, there was talk of increased buying of funds in global gold amid retreat in the dollar index and US bond yields.

Behind the world market, the price of gold rose by Rs. 300 per 10 grams in the Ahmedabad market today, reaching the level of Rs. 65 thousand. The price of silver in Ahmedabad was Rs. 75 thousand per kilo. In the world market today, silver prices were higher from 24.49 to 24.50 to 24.27 to 24.28 dollars per ounce.

Meanwhile, global platinum prices were higher at $1,006 to $998-999 an ounce while palladium prices were tipped higher at $1,167 to $1,137-1,138 an ounce. Global copper prices, however, were down 0.83 percent today. Crude oil prices in the world market were seen falling from a higher peak. Brent crude prices fell from 78.25 to 78.74 dollars a barrel after recently touching highs above 80 dollars near 81 dollars.

US food prices fell from 72.89 to 73.12 dollars. As new demand slows, crude oil surges to sell. Markets were eyeing the movement of crude oil tankers on the night sea route.

However, the world market was hearing about the decrease of crude stock in America by about 26 lakh barrels. However, Jamkars were also showing hope of increasing production in Russia. Meanwhile, in the Mumbai bullion market, gold prices rose to Rs 63,198 from Rs 62,970 at Rs 99.50, while gold prices at Rs 99.90 rose from Rs 63,644 to Rs 63,452 at Rs 63,223.

Mumbai silver prices rose to Rs.74,800 from Rs.74,064 to Rs.74,643 without GST. In Mumbai gold and silver prices with GST remained 3 percent higher than this price. Meanwhile, the price of the dollar stopped rising against the rupee in the Mumbai currency market today, falling to a low of Rs 83.36 to Rs 83.15 to Rs 83.17. The dollar fell to a five-month low against the global euro.

The impact of the record boom in the stock market at home had a positive impact on the rupee today. As crude prices fell, its positive effect on the rupee was seen today. In the world market, the dollar index fell by 0.31 percent to 100.67. The British pound rose by 39 paise to Rs.106.42 in the Mumbai market. While the price of European currency Euro increased by 48 paise to Rs.92.58.