Gold-silver advance: Crude hits highs near $85, tumbles again

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Mumbai: The prices of gold and silver rose in the Mumbai jewelery market today. As the world market increased, the import level at home increased, and the jewelery market saw an upswing. The safe haven buying of funds was maintained in global gold. Gold prices in the world market today were 2033 to 2034 to 2028 to 2029 dollars per ounce in 2018 to 2019 high.

At home, Ahmedabad gold prices rose by Rs.100 per 10 grams to Rs.99.50 to Rs.64,500 and 99.90 to Rs.64,700 while Ahmedabad silver prices rose by Rs.200 to Rs.72,500 per kg. Behind gold in the world market, silver prices were directed at 23.03 to 23.04 to 23.00 to 23.01 dollars in the high range of 22.80 to 22.81 per ounce.

Meanwhile, crude oil prices in the world market rose above $84 a barrel to reach a high of $84 and there was news of a further decline. After crude oil prices surged due to a tense atmosphere in the Red Sea and rising tensions in the Middle East, there were indications that the price may fall again amid China's weakness. There was talk of a crisis in a large company in the construction sector in China.

The price of Brent crude in the world market was 84.80 to 83.65 dollars in the high of 83.55 per barrel. US crude prices were 69.29 to 78.13 dollars at a high of 78.01 per barrel. Global copper prices showed a one-sided volatility. Global platinum prices ranged from $910 to $911 to $912 to $913, down from $915 to $916 an ounce. There were indications of palladium prices ranging from $945 to $954 to $955 in the low range of $960 to $961.

In the Mumbai bullion market today, the price of gold without GST was Rs.62,265 at Rs.62,150 at 99.50 and Rs.62,515 at Rs.62,400 at 99.90. Mumbai silver prices were Rs.71,371 from Rs.71,100 without GST. In Mumbai gold and silver prices including GST were 3 percent higher than this price.

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