Sharp fall in gold-silver prices : Crude oil hits four-year low

China retaliates against US tariffs, sparking trade war concerns. China imposed tariffs on US goods in response to US tariffs, increasing global market anxieties. Gold, as a safe haven asset, saw renewed demand, according to market experts.

Mumbai jewellers’ market witnesses a rapid decline in silver prices today: Sharp fall in gold-silver prices

Silver prices fall by Rs. 6500 in two days, crude oil hits four-year low. Mumbai, Friday – Silver prices saw a sharp decline today in the Mumbai jewellers’ market, while gold prices remained relatively stable. Global prices for silver, platinum, palladium, and copper fell amid President Trump’s tariff measures. However, global gold prices saw a resurgence of safe-haven demand, with prices ranging from $3063 to $3064 per ounce. Global silver prices fell sharply, causing local silver prices to decrease as well.

Silver prices fall by Rs. 6500 in two days: Sharp fall in gold-silver prices

In the Ahmedabad jewellery market, silver prices fell by Rs. 3000 per kg, reaching Rs. 93,000. Market sources report a Rs. 6500 drop in silver prices over the past two days. Meanwhile, gold prices in Ahmedabad were relatively stable at Rs. 200 per 10 grams. 995 gold was priced at Rs. 92,900, while 999 gold was quoted at Rs. 93,200. Global silver prices fell to a low of $30.76 to $30.77 per ounce.

Global crude oil prices fall by 7-8%: Sharp fall in gold-silver prices

Meanwhile, global crude oil prices fell by 7-8% today, causing market uncertainty. Concerns about the global economy and reduced food demand, in addition to OPEC countries’ decision to increase crude oil production from May, contributed to the drop. Brent crude prices fell below $65 per barrel for the first time since August 2021. Today’s low for Brent crude was $64.15 to $65.95 per barrel. US crude oil prices fell to a low of $60.81 to $62.17 per barrel.

Gold-silver prices in Mumbai bullion market: Sharp fall in gold-silver prices

Global copper prices fell by 6.26% today. Platinum prices fell to a low of $933 to $934, while palladium prices fell to $923 to $924. In the Mumbai bullion market, silver prices (excluding GST) ranged from Rs. 92,910 to Rs. 95,957. Mumbai gold prices (excluding GST) ranged from a low of Rs. 89,948 (995) to Rs. 90,650 (995) and Rs. 90,310 (999) to Rs. 91,014 (999). Gold and silver prices with GST were 3% higher than these figures.

Job growth in the US rises, with 228,000 new jobs in March, surpassing expectations of 135,000. Unemployment claims decreased by 6,000 to 219,000. These figures reflect pre-tariff conditions, with post-tariff conditions expected to vary.

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