A gap of Rs.1000 in gold and Rs.2000 in silver
(Gujarat News Office) MUMBAI: The Mumbai jewelery market witnessed a sharp decline in gold and silver prices today. News in the world market was showing a sharp fall in precious metals. After the US government announced its decision to retain Powell as chairman of the Federal Reserve, there were reports of widespread selling of funds in gold as the dollar index rose and bond yields rose in world markets. Powell said the market was now watching the US approach to reducing bond buying and raising interest rates. Bond yields rose as the bond market declined against US stock markets. Market players were stunned today as gold prices fell below ૮ 1,200 an ounce and were quoted at થી 150 to ૭૯ 131 in the global market. Market experts were hoping that seasonal demand in the jewelery market would pick up now as import prices plummeted as domestic markets plummeted and prices fell as the wedding season dragged on. In Ahmedabad jewelery market, gold prices fell sharply by Rs 1,000 per 10 grams