Gold prices continue to rise

Hyderabad: With the frightening news of coronavirus spreading rapidly to many more countries, the demand for gold has recorded substantially high. Gold appreciated significantly and closed at $1,643 (per ounce). Silver followed suit and closed at $18.44 (per ounce).

Other economic parameters were Brent $57.94 (per barrel), Crude oil Rs 3,982, Platinum and Palladium closed at $973 (per Oz.) and 2,714 (per Oz.) respectively while Copper MCX closed at Rs 431.90 (per kg). Gold MCX stood at Rs 42,588 (per 10 gms) and Silver MCX at Rs 52, 492 (per kg).

During the week standard gold (24 carats) appreciated by Rs 2,330 and closed at Rs 42,150 (per 10 gms). Ornamental gold too, moved in tandem and was quoted in the range of Rs 40,040- 10,140. Silver (0.999) recorded an appreciation of Rs 2,100 and closed at Rs 48,300 (per kg). The sentiment in gold and silver jewellery market is likely to remain strong.