Global gold hit $ 85, hitting $ 1600 in futures prices

Ahmedabad gold worth Rs. 44700 and silver Rs 200, respectively. 800 breaks down to 46200

(Commerce Rep) Mumbai, Ta. March 12, 2020, Thursday

China, the deadly corona virus spreading to various countries of the world, has been reported to have a significant decline in the global market, as the US, Europe and Asia stocks were falling on the global market today.

Gold prices that went down from $ 1671 to $ 1672 on Wednesday in the global market have plummeted to a low of 1589 to $ 1,590 at one point today. Thus globally, the price of gold today fell by roughly $ 80 to $ 85 a day.

In the domestic market, jewelery market, behind the world market, today saw a drop of around Rs 1,400 to Rs 1,500 per 10 grams. Silver also lost Rs 2,500 per kg today.

In the Mumbai market, gold prices today fell to Rs 42,000 in 10 grams without 99 GST, while silver prices rose to Rs 43500 in the low of 999 without rupees in GST. However, late in the evening, gold prices were trading higher at $ 1592.50 to $ 1593 and silver was at $ 16.00 to $ 16.05.

In the world market today, crude oil prices have dropped 5-7 per cent between Korana. Brent crude prices were trading at $ 33.25 to $ 33.30 a barrel this evening, while New York prices fell $ 30.60 to $ 31.35 to $ 31.40.

There were directives that various producing countries of crude would increase production. While stock markets are generally disappearing in the global market, gold prices are rising, but this time, the informants were wondering if gold has been associated with stocks. According to the informants, there was talk of selling funds and investors globally to compensate for losses in stocks and to take responsibility for payment arising out of stock deals.