Bullish breaks in gold as dollar falls: retreat seen in silver as well

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MUMBAI: Today, gold prices stopped rising in the Mumbai jewelery market and remained on a counterproductive decline. The negative impact on the jewelery market was seen as the price of the dollar fell rapidly against the rupee in the currency market. Market experts were predicting import cost to come down as the dollar fell. In the Mumbai currency market today, the dollar price fell by 13 paise to Rs.82.85.

In the Ahmedabad jewelery market today, gold prices fell by Rs.300 per 10 grams to Rs.99.50 to Rs.64,000 and 99.90 to Rs.64,200 while Ahmedabad silver prices fell by Rs.500 to Rs.71,500 per kg. Meanwhile, gold prices in the world market today were at a low of 2025 and a high of 2034 to 2028 to 2029 dollars per ounce. The global silver prices were 22.86 to 22.86 and 23.16 to 23.04 to 23.05 dollars in high. Platinum prices were at a low of 949 and at a high of 973 to 964 to 965 dollars.

Global copper prices were up 0.21 percent today. Global crude oil prices rebounded from the shock. The price of Brent crude rose by 82.14 to 83.50 to 82.91 dollars per barrel. The prices of US crude rose from 76.86 to 78.42 to 77.84 dollars. However, there was news that the stock of crude oil in America has increased by 71 to 72 lakh barrels and the stock of gasoline in America has also increased.

In the Mumbai bullion market today gold prices were Rs.61906 at Rs.62009 at 99.50 and Rs.62155 at Rs.62258 at 99.90 while Mumbai silver prices were at Rs.70708 at Rs.70310 at Rs.70396 without GST.


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