Jewelery market slumps shock: Ahmedabad silver hit Rs 1,500, while gold lost Rs 400.

(Gujarat News Office) Mumbai, Ta. September 14, 2019, Saturday

Bullion market was closed officially on Saturday in the Mumbai jewelery market. However, there were indications that gold and silver prices fell sharply behind the world market in the closed market. The bullion market players were stunned when the global market lost a three-and-a-half percent drop in the price of silver on Friday night. There was also news that gold prices fell below the silver in the world market.

The imports of precious metals have plummeted due to the collapse of the world market and prices have dropped in the jewelery market today. There was a new demand and the market was selling behind the world market. Meanwhile, silver in the Ahmedabad jewelery market today was said to be worth Rs 5 per kg, while in Ahmedabad gold was valued at Rs 5 per gram and Rs 5 for Rs 5.

Gold and silver rallied as the dollar raised the world market. With the hope of a trade agreement between China and the United States, the precious metals were gaining momentum in the world market. There was talk of becoming a downward active. In the global market, silver prices fell overnight to $ 5.7 per gallon.

Gold prices were down $ 1.8 to $ 8 on the weekend, with the dollar losing $ 3.4. Meanwhile, in the Mumbai market today, the price of gold was trading at Rs 5 with GST at Rs 5 and Rs 5 at Rs 5 at Rs 5. While prices with GST were almost three per cent higher than this price.

Meanwhile, silver prices in the Mumbai market today were trading at Rs 5 per kg without GST, while cash prices were speaking at Rs 5 to Rs 5 higher and with GST the prices were speaking three per cent higher. As the dollar index rose higher in the world market, the closing price of the dollar in the Mumbai currency market today was Rs.

Job market news in the United States was good. There were reports of jobless claims unemployment claims falling 5 thousand to 5 lakh 5 thousand, and such claims had reported a five-month low. In the United States, the Federal Reserve is scheduled to meet on September 7 and 9, and the meeting is likely to show further interest rates.

Meanwhile, crude oil prices remained soft in the world market. Brentcrude prices were trading at $ 8 to $ 8 per barrel on the weekend, while New York prices were trading at $ 1.8. World market forecasters were wondering if crude oil prices were sluggish despite news of a drone attack at some Saudi Arabia's oil fields.