Gold prices decline drastically

Hyderabad: The New York gold ruled firm and closed at $1,478.12 (per ounce). Silver followed suit and closed at 17.01 dollars (per ounce).

Brent recorded a thin appreciation of about $0.30 and closed at $64.34 (per barrel). Crude oil closed at Rs 4,241 (per barrel) while Copper stood at Rs 440 (per kg).

At home, the precious metals remained divergent. Gold MCX and Silver MCX closed at Rs 37,773 (per 10 gms) and Rs 43, 880 (per kg) respectively. Platinum and Palladium moved up and closed at $931.15 (per ounce) and $1,954.06 (per ounce).

In Hyderabad, standard gold (24 carats) declined by Rs 500 and closed at Rs 37,740 (per 10 gms). Ornamental gold too, moved in tandem and was quoted in the range of Rs. 35,820-35,920 (per 10 gms).

Silver (0.999) on the other hand, appreciated by Rs 600 and closed at Rs 44,100 (per kg).

COMMODITIES

The sentiment in the principal wholesale commodity markets in twin cities continued to be from moderate to strong. The sky-rocketing prices of onions are expected to come to the realistic normal level shortly as the imported onions have already made its way into the markets.

Among perishables, common vegetables such as cabbage, cauli flower and other leafy vegetables sharply moved up in sympathy with onions. Other common vegetables also recorded appreciation in the range of 30 - 47 per cent.