Gold and silver prices in the Mumbai jewellery market today rebounded after a shock. The news from the world market was encouraging. There was news that global gold prices had risen again and crossed $3,300 per ounce. Following the global market, fresh selling in the domestic jewellery markets today was halted. Global gold fell as crude oil prices rose, leading to fund buying. Behind gold, global silver prices rose to $33.43 from $32.89 to $32.90 per ounce. The market was eyeing the minutes of the US Federal Reserve meeting and the inflation data to be released in the US. Meanwhile, crude oil prices rose in the world market. Brent crude prices in the global market rose by 65 cents to $65.11 a barrel from $65.06 a barrel as the US imposed sanctions on a major Venezuelan oil company and wildfires in Canada threatened to cut oil supplies. US crude prices rose by 65 cents to $65.97 a barrel from $61.93.
Global platinum prices were at $1,085. Palladium prices, however, fell to $969-970. Global copper prices fell by 0.76 percent. Meanwhile, gold prices in the Mumbai bullion market today increased to Rs.95,317 and Rs.95,700 excluding GST in 995 and 999, respectively, while Mumbai silver prices increased to Rs.97,446 excluding GST.
