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Gold moves up slightly in local mkt
Gold rates today
While there seems to be no immediate end to the ongoing Russia-Ukraine war, the danger-signals from NATO and US have become more prominent.
Hyderabad: While there seems to be no immediate end to the ongoing Russia-Ukraine war, the danger-signals from NATO and US have become more prominent. In such a situation it is obvious that there would be an all-round adverse impact on supplies, manufacturing and prices in the days to come.
Thus, the global markets are sure to record unprecedented inflation, if the war does not stop in a near future. Amidst strong rumours of a hike in the Fed rate during the meeting of Federal Reserve in the coming week, gold suffered bearish sentiment. Consequently, New York gold recorded a decline and closed at $1,991.10 (per Ounce).
Silver too, declined and closed at $25.95 (per Ounce). Platinum and Palladium closed at $1,076.00 (per Ounce) and $2,744.00 (per Ounce) respectively. In local markets, standard gold (24 carats) recorded a small appreciation of Rs 10 and closed at Rs 52,810 (per 10 gm). Ornamental gold was quoted in the range of Rs 48,310–48,410 on the closing day. Silver (0.999), on the other hand, further appreciated by Rs 1,300 and closed at Rs 74,700 (per kg).
Commodities
The sentiment in principal wholesale commodity markets in twin cities was moderate. Rythu Bazars and the various commodity markets located in Begum Bazar, Kishangunj, Mukthyargunj, Risala Abdullah, Mir AlamMandi, Dilsukhnagar, Kukatpally, Bowenpally, General Bazar recorded moderate trading.
During the week, tuar dal, masoor dal, moong dal and urad dal and chillies and garlic remained unchanged at their respective last week's closing levels, while staple food-grains and common edible oils recorded a sizeable increase following the disruption in imports of oils.
