Gold prices decline marginally

Hyderabad: Gold remained buoyant and closed at $1,519. 14 (per Ounce) while silver, followed suit and closed at $18.06 (per Ounce).

Platinum and Palladium also marched forward and closed at $.948.60 (per 10 gms) and $1,645.75 (per 10 gms) respectively.

Other economic parameters, too, moved northward. Brent closed at $63.82 (per barrel) while Crude oil was quoted at Rs 4,178 (per barrel). Gold MCX stood at Rs 37,697 (per 10 gms). Sensex and Nifty 50 closed at 38,014.62 and 11,274.20 points respectively.

At home, due to on-going Sraddhapaksh, the trading was dull. As such, both the precious metals remained divergent. Standard gold (24 carats) declined by Rs 180 and closed at Rs 37,700 (per 10 gms).

Ornamental gold too, moved in tandem and was quoted in the range of Rs. 35,760 - 35,860 on the closing day. On the other hand, Silver (0.999) appreciated by Rs 700 and closed at Rs 46,500 (per kg). The divergent trend is likely to continue till beginning of Navaratri festival.

COMMODITIES

The sentiment in principal wholesale commodity markets in the twin cities was moderate. Rythu Bazars and the various commodity markets located in Begum Bazar, Kishangunj, Mukthyargunj, Risala Abdullah, Mir Alam Mandi, Dilsukhnagar, Kukatpally, Bowenpally, General Bazar was from moderate to strong.

The inflow of agro-goods supplies from other states, particularly Gujarat, Maharashtra, and Madhya Pradesh have been obstructed due to heavy rains and flood situation in these states.

During the week common pulses such as tuar dal, moong dal, urad dal, chillies, turmeric and masoor dal recorded a marginal appreciation while staple food grains and common edible oils remained steady at the previous week's closing levels.