Gold prices fall marginally

Hyderabad: With no visible change in the geo-political situation, the New York gold slided marginally during the week ended Saturday and closed at $1,421.05 (per Ounce) while silver, appreciated in the same proportion and closed at $16.49 (per Ounce).

Platinum and Palladium followed suit and closed at Rs.25,780 (per 10 gms) and Rs 33,930 (per 10 gms) respectively.

Other economic parameters, including the crude oil, moved northward. Brent closed at $63. 70 (per barrel) while Crude oil was quoted at Rs 3,874 (per barrel). Copper followed at Rs 443.59 (per kg).

Gold MCX stood at Rs 37,774 (per 10 gms) and Silver MCX at Rs 444,832 (per kg). Sensex and Nifty 50 closed at 37,8879 and 11,284.30 points respectively.

Leading foreign currencies' exchange rates were: $: Rs.68.89, British Pound: Rs 87.05, Euro: Rs 78.12, Singapore $: Rs 51.33, Canadian $: Rs 53.17, Swiss Franc: Rs 70.83, Australian $: Rs 48.53, Saudi Rial: Rs 18.65, Omani Rial: Rs 185.96, Kuwaiti Dinar: Rs 237.52 and UAE Dirham: Rs.19.19.

At home, amidst sluggish demand both the yellow and white metals remained divergent. Standard gold (24 carats) declined by Rs 370 and closed at Rs 35,060 (per 10 gms). Ornamental gold too, declined in tandem and was quoted in the range of Rs 33,280 - 33,380 on the closing day.

Silver (0.999), on the other hand, appreciated by Rs 550 and closed at Rs 41,150 (per kg). The sentiment in gold and silver jewellery market is likely to remain unchanged for the present.