Rs.1000 crash in silver: Wind of decline in world behind jewelery market
(Gujarat News Office) MUMBAI: Gold and silver prices continued to decline in the Mumbai jewelery market today. With prices falling further in the global market, the domestic import cost has come down and as a result, prices in the jewelery market have come under pressure, leading to more selling and less buying in the declining market, market sources said. The rise in the dollar index in world markets, as well as rising bond and treasury yields, led to a sell-off in gold. Unemployment claims in the US have plummeted to a 30-year low, with job markets rising and the global dollar index rising. Gold prices in the world market today were ૭૭૨ 16 to વાળા 16 an ounce, up from ૭૭૫ 12 to 12 an ounce. Behind gold, global silver also fell from ૬ 2.15 an ounce to ૭ 6.15 an ounce and was trading at ૮૮ 71.8 to ૮૯ 71.8 an ounce today. Meanwhile, the fall in gold prices in the world market, however, slowed down today on the back of rising crude oil prices in the world market. New York's main