Gold fell by Rs 1100 to Rs 75000 in Ahmedabad

Mumbai: Mumbai’s jewelery market today witnessed a huge decline in gold and silver prices from their peak. Market sources said that after several days of recent rise in the market, a huge fall in prices was seen today. Domestic import costs fell sharply due to falling prices in the world market and this led to selling in the jewelery market due to lack of fresh demand at higher levels today.

Globally, as tensions between Iran and Israel eased and global dollar indices and bond yields rose, there was talk of increased selling of high-heading funds in gold in the world market today. There was talk of increased selling of high-heading funds in gold in the global market today. Today at home behind the world market, the price of 99.90 grams of gold in Ahmedabad gold and silver market was Rs 1100, Rs 99.50, Rs 75000 and Rs 75200.

Whereas in Ahmedabad, silver prices fell by Rs 500 per kg to Rs 83 thousand. In the global market today, the price of gold ranged from 2337 to 2339 to 2340 dollars and a low of 2391 to 2392 per ounce. Behind gold, global silver prices were also lower at $28.69 to $27.38 an ounce at $27.39 to $27.40.

Meanwhile, global platinum prices were at $925-926 an ounce from 936’s low of $920, while palladium were at $1015-1016 from 1032’s low of $1066. As soon as the price of crude oil fell in the world market, its negative impact was also seen on the global price of gold.

Brent crude was down $87.29 at $85.79 a barrel, while US crude was down $83.14 at $81.85 a barrel. At the global level, as friction between different countries reduced, it had a negative impact on crude oil prices. However, global copper prices were up 0.07 per cent today.

Meanwhile, in Mumbai bullion market today, gold prices without GST stood at Rs 72,583, Rs 73,500 at 99.50 while at Rs 72,875, at Rs 73,750 at 99.90. Mumbai silver prices increased from Rs 83100 to Rs 81554 without GST.