New record of gold Rs 71700, silver Rs 78500 – ..
Ahmedabad, Mumbai: Gold and silver prices reached record high in the gold and silver market of Ahmedabad today. World market news was also showing record bullishness. The historic boom in the jewelery markets of the country continued today due to the rise in the import cost of precious metals domestically due to the uptick in the global market and the appreciation of the domestic dollar against the rupee. In Ahmedabad jewelery market, gold prices rose by Rs 700 per 10 grams to hit a new high of Rs 71,500 at 99.50 and Rs 71,700 at 99.90. Now the eye is on the price of Rs 72 thousand. Market experts were saying this.
Ahmedabad Silver price today rose by Rs 2,500 per kg and crossed Rs 78,000 to reach Rs 78,500. Silver was now seen at a price of Rs 80 thousand.
Meanwhile, gold prices in the world market increased from 2255 to 2256 per ounce to a new high of 2287 to 2288 dollars and the price went from 2273 to 2274 dollars.
Purchasing of funds was going on. Job growth in the US private sector came in at 1,84,000 versus expectations of 1,48,000, indicating that the job market has strengthened.
Meanwhile, on the back of gold, global silver prices rose to $26.55 from $26.41 to $26.42 an ounce today from $25.63 to $25.64 an ounce. Global platinum prices rose to $929 an ounce from $930 an ounce. Whereas the price of palladium decreased from $1009 to $1010.
World market sources said global copper prices rose 1.08 per cent today, which supported the rise in global silver. Global crude oil prices continued to rise even today.
Brent crude prices rose from $89.87 to $89.79 a barrel, while US crude prices rose from $86.10 to $85.70. World market analysts were pointing to the possibility of continued global tight supply as the OPEC organization meeting today decided that the crude oil production cuts will continue till June.
Meanwhile, gold prices rose from Rs 68,685 to Rs 99.50 in Mumbai bullion market today. While the price of 99.90 increased from Rs 69526 to Rs 68961 to Rs 69364. Mumbai Silver prices today rose from Rs 76127 to Rs 77664 at Rs 77594 without GST.
Gold and silver prices in Mumbai were three percent more than this price including GST. There was news that the stock of crude oil in America has reduced. There was a fear that such stocks would decrease by 1.5 million barrels, but in fact, sources at the American Petroleum Institute reported that such stocks had decreased by 2.3 million barrels.
