Gold prices appreciate marginally

Hyderabad: With the ongoing US-China war and other global volatilities investors shifted their preferences from stocks to gold as latter being considered as the safe bat.

Consequently New York gold touched $1,300 (per oz) mark, first time in the last two weeks and finally closed at $1,299. Silver too, followed suit and closed at $14.51.

Other economic parameters remained divergent. Crude oil closed at Rs 3,776 (per barrel) while Brent Crude closed at $69.99.

Copper MCX was quoted at Rs 406.79 (per kg). Gold MCX stood at Rs 32,068 (per 10 gms) and Silver MCX at Rs 36,430 (per kg).

At home, amidst sluggish demand both the yellow and white metals recorded marginal gains. Standard gold (24 carats) appreciated by Rs 270 and closed at Rs 32,230 (per 10 gms).

Ornamental gold too, moved up in tandem and was quoted in the range of Rs 30,540-30,550 on the closing day.

Silver (0.999) recorded an appreciation of Rs 50 and closed at Rs 36,400 (per kg). The sentiment in gold and silver jewellery market is likely to remain firm at least in the near future.