Boom in jewelery market: Gold rose by Rs.700 and silver rose by Rs.1000

– Crude oil prices also rise: Dollar falls against rupee

Updated: Oct 8th, 2023

Mumbai: Bullion market was officially closed today due to Saturday in Mumbai jewelry market. However, the market sources said that the price of gold and silver fell in the closed market and saw a rapid rise in price. As the prices of precious metals rose from the bottom in the world market, as the import cost at home increased, the jewelery markets stopped the recession and saw a bullish trend today.

According to sources in the world market, there is a possibility that there will be a bullish effect on the prices of gold, silver and crude oil in the world market as the conflict between Israel and Palestine increases. Gold prices in the world market increased from 1813 to 1814 per ounce to 1833 to 1834 dollars while global silver prices increased from 21.03 to 21.04 per ounce to 21.60 to 21.61 dollars per ounce.

Meanwhile, at home in Ahmedabad jewelry market today, the price of gold rose by Rs.700 per 10 grams to Rs.59,300 at 99.50 and Rs.59,500 at 99.90. Ahmedabad silver prices increased by Rs.1000 per kg and crossed Rs.70 thousand to Rs.70500.

Meanwhile, crude oil prices also rose in the world market. US crude prices rose by 82.42 to 83.28 to 82.79 dollars per barrel while Brent crude prices rose to 84.95 to 84.58 dollars by 84.36. Global copper prices rose by 2.10 to 2.15 percent at the end of the week.

The price of platinum in the world market increased from 856 to 857 per ounce to 885 and lastly the price was 881 to 882 dollars. While palladium prices increased from 1147 to 1148 to 1173 to 1162 to 1163 dollars. Meanwhile, in the Mumbai currency market today, the dollar price against the rupee fell from Rs.83.25 to Rs.83.16 to 83.17.

In the Mumbai bullion market today, gold prices rose to Rs.57,200 from Rs.56,313 at 99.50 and rose to Rs.57,450 from Rs.56,539 at 99.90, while the price of Mumbai silver rose to Rs.69,300 from Rs.67,095 at Rs.67,095 without GST. In Mumbai gold-silver prices including GST were three percent higher than this price.

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