A jump of Rs.1100 in gold and Rs.1000 in silver

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Gold prices in the world market rose by 60 dollars overnight, players were stunned

Mumbai: Bullion market was officially closed today due to Saturday in Mumbai jewelry market. However, in the closed market, the price of gold and silver saw a rapid rise behind the global market. Market sources said that the sharp rise in prices in the global market overnight has led to a rapid increase in import costs at home and due to this, the jewelery markets of the country saw a sharp rise in prices today. Gold prices rose by Rs.1100 per 10 grams in Ahmedabad jewelry market today while Ahmedabad silver prices rose by Rs.1000 per kg.

The price of gold in the world market rose from 2029 to 2030 dollars per ounce, the price from 2088 to 2089, and finally at the end of the week there were indications that the price was 2082 to 2083 dollars. Globally, there was news of a significant increase in the buying of funds in global gold amid the retreat of the dollar index and bond yields. Markets were eyeing when and how much interest rates are cut ahead in the US.

There, sales figures for durable goods were weak. The job growth data was eyed. There were indications that the job market remained strong as jobless claims fell by 13 thousand to 2 lakh 15 thousand. In the world market, behind gold, the price of silver also increased from 22.34 to 23.27 per ounce, and lastly the price was 23.12 to 23.13 dollars.

In Ahmedabad jewelry market today gold prices increased to Rs.99.50 to Rs.65100 and 99.90 to Rs.65300 while Ahmedabad silver prices increased to Rs.72000. As crude oil prices also increased in the world market, it also had a positive effect on the global gold prices.

Brent crude oil prices increased by 83.39 to 84.34 to 8355 dollars per barrel, while US crude prices rose to 78.59 to 80.85 to last at 79.97 dollars. Markets were eyeing production cuts by OPEC crude producers. Global platinum prices rose to $888-889 from $882 to $890 per ounce, while palladium prices rose to $958-959 from $965 to $935 per ounce. Global copper prices were last at 0.38 percent plus.

In the Mumbai currency market today, the dollar price was trading at Rs.82.83 after falling from Rs.82.91 against the rupee in the closed market. In the Mumbai bullion market today, gold prices were Rs.63300 at Rs.61992 at 99.50 and Rs.63550 at Rs.62241 at 99.90, while Mumbai silver prices rose at Rs.69312 at Rs.70650 without GST. In Mumbai gold-silver prices with GST were being quoted three percent higher than this price.


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