Gold prices plummeted to $ 1,550, with short-lived commodities trading down from the bottom

(Commerce Rep) Mumbai, Mar 13, 2020, Friday

The spread of the deadly virus in China has prompted market players to stagger as the outbreak of the outbreak continued in various markets on Friday, with directives spreading to various countries around the world.

Like the stock market, gold and silver markets today experienced sharp fluctuations. Gold in the world market had rebounded after falling in price today. However, late in the evening, there were reports of a drop in prices. Crude prices also eased after rising from the bottom.

One ounce of gold in the world market today fell from a low of $ 1551 to $ 1552 in the morning, followed by a sharp jump from $ 1595 to $ 1596. However, after the upward trend, gold prices recovered in the midst of Friday night.

This week saw a seven-year peak when gold prices soared above $ 1700. But then a new record of selling price was created, with gold falling to about $ 165 to $ 170 a barrel due to falling prices.

At the Mumbai market, gold prices were trading around Rs 41,000 at 99.50 per 10 grams without the GST in the evening. While silver prices were trading at around Rs 4,1500 to Rs 41500 per kg of 999 without the priceless GST. With GST, prices were up 3%. Silver prices were trading at $ 14.75 to $ 14.80 on Friday night after silver prices fell from $ 15.95 to $ 16.00 a ounce higher in the world market today.

Meanwhile, there was news of a crash in the world market after crude oil prices rose nearly 6 percent from the low headline. Brentwood prices fell $ 35.35 to $ 35.40 per barrel today, while prices fell again from $ 33.50 to $ 33.55 late in the evening, while New York prices fell again to $ 31.55 to $ 31.60 tonight after falling $ 33.55 to $ 33.60. Copper too was buoyant as the prices were rising again at night.