Heavy selling in precious metals, international market also battered

Mumbai: Gold and silver prices continued to fall in the Mumbai jewelery market today, which lagged behind the global market. There were reports that gold prices fell to $ 3,300 an ounce in the world market. Due to the fall in the global market, the cost of import of precious metals domestically declined, and due to declining prices, the sellers in the country’s jewelery markets today were more and buyers.

Gold prices fell by Rs 100 in Ahmedabad’s jewelery market. 600 rupees per 10 grams. 98,400 for 995 and Rs. Silver fell by Rs 999 to Rs 98,700 in Andabad. Rs 1000 per kg to Rs. 96,000. Meanwhile, gold prices in the world market fell from 3,333 to $ 3,334 an ounce to 3,287 to $ 3,294 an ounce and then from $ 3,295 an ounce.

Due to the increase in the dollar index in the global market and the less the possibility of trade war between the US and Europe, the safe demand for gold in the global market decreased and there was talk of increasing selling by funds in the market. Globally silver prices also fell from $ 33.39 an ounce to $ 33.39 to $ 32.85 an ounce by $ 32.89 an ounce and $ 32.90 an ounce after gold.

The fall in crude oil prices in the world market also had a negative impact on global gold prices today. Crude oil prices remained under pressure, as OPEC oil producing countries continued to increase production in June and July, and indicated that the decision in this direction would be taken soon.

Experts estimated that crude oil production in July would increase by 411,000 barrels per day. Today, the price of Brent crude in the world market fell from $ 64.77 per barrel to $ 64.33 per barrel. American crude oil prices fell from $ 61.10 to low -$ 615. Globally, copper prices fell by 1.13 percent.

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Global platinum prices fell into $ 1,080 to $ 1,072 an ounce. Paladium prices fell from $ 976 to $ 977. In the Mumbai bullion market today, the price of gold was Rs 100 per kg, except GST. Below Rs 94,771. 95,429 per 100 grams. While it was a price of Rs 999. It was Rs 95,813. 95,152. The price of Mumbai silver was 250 rupees. Except for GST, its price was Rs 97,397. 96,525.