Gold prices continue to fall

Hyderabad: Amidst increased optimism about amicable resolution of trade disputes between the US and China by June end, the global gold market remained subdued during the week ended Saturday and closed at $1,276.

Other economic parameters were firm. Brent Crude further recovered from the previous week and closed at $70.80. Crude MCX and Copper MCX closed at $4,457 and 448 respectively.

Gold MCX stood at Rs 31,463 (per 10 gms) and Silver MCX at Rs 37,230 (per kg). FTSE closed at 7459.88 points while Dow Jones closed at 26,559.54 points. Nasdaq stood at 7,998.06 points on the closing day.

Aluminium MCX closed at $149.45. Leading foreign currencies vis-a-vis Indian Rupee (INR) were: $Rs.69.36, British Pound Rs 90.18 and Euro Rs 78.04.

At home, amidst sluggish demand both the yellow and white metals remained divergent.

Standard gold (24 carats) declined by Rs 140 and closed at Rs 31,670 (per 10 gms).

Ornamental gold (22 carats) too, moved in tandem and was quoted in the range of Rs 30,060-30,160 on the closing day.

Silver (0.999) recorded an appreciation of Rs 100 and closed at Rs 37,250 (per kg).