Pullback in gold-silver: Crude slows

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Mumbai: Bullion market was officially closed today due to Saturday in Mumbai jewelry market. However, in the closed market, gold and silver prices were showing a slow decline behind the global market. The price of gold in the world market was 2055 to 2056 high, 2070 to 2071, then low 20245 to 2046, and finally at the end of the week, the price was 2053 to 2054 dollars. The world market witnessed a sell-off in gold ahead of the Christmas holidays.

Meanwhile, behind gold, global silver prices touched a high of 24.47 to 24.48 an ounce at a high of 24.60 to 24.61, then a low of 24.09 to 24.10 an ounce to finally settle at 24.18 to 24.19 dollars. Meanwhile, gold 99.90 was priced at Rs.65,000 per 10 grams while 99.50 gold was priced at Rs.64,800 in Ahmedabad jewelry market. Silver .999 per kg remained stable at Rs.75500.

Behind the world market, the gold price of 10 grams without GST was trading at Rs.62575 at 99.50, while the price of 99.90 was at Rs.62825 at Rs.62844, while the price of Mumbai silver was at Rs.74918 without GST. 74400 was Rs.

Meanwhile, the dollar rose against the rupee at the close of the Mumbai currency market today, following shocks in global markets. The price of dollar against the rupee rose to Rs.83.23 today from Rs.83.14. Palladium prices were indicated to be between 1229 and 1230 with a high of 1249 and a low of 1200 and finally at 1205 to 1206 dollars.

Meanwhile, crude oil prices were soft in the global market. Brent crude prices fell from 79.97 to 79.98 to 78.88 per barrel and last traded at $79.07 while US crude prices fell from 74.58 to 73.39 to 73.56 dollars per barrel.

Crude oil prices remained subdued despite indications that increased tensions on the Red Sea route had adversely affected the movement of oil tankers on this sea route. Meanwhile, there was news of Angola's exit from OPEC, the Organization of Crude Oil Producers.


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