Gold prices remain subdued

Hyderabad: Amidst expectations of positive outcome of the ongoing trade-negotiations with China and improved employment statistics, gold remained subdued in the global markets during the week ended Saturday.

Gold ruled at the lower levels and slipped to the psychological low of $1,278.94. Silver too, declined and closed at $14.93 per ounce.

Other economic parameters generally remained strong. The $ once again came down to Rs 69.22 while British Pound and Euro closed at Rs 90.90 and Rs 77.35 respectively.

Brent was quoted at $70.78 (per barrel) and Crude oil at 4307. Copper and Aluminium closed at Rs 434.35 and Rs 145.25 (per kg) respectively.

Gold MCX closed at Rs 31,447 (per 10 gms) while Silver MCX at Rs 37,059 (per kg). Platinum and palladium were quoted at Rs 27,050 (per 10 gms) and Rs 30,024 respectively. The stock market scenario remained moderately satisfactory.

Sensex and Nifty 50 closed at 38,963.26 and 11,712.30 points respectively while Ny Mex and Dow Jones closed at 61.86 and 26,430.32 points.

During the week, Standard gold (24 carats) declined by Rs 510 and closed at Rs 31,540 (per 10 gms).

Ornamental gold (22 carats) too, moved in tandem and closed in the range of Rs.29,730-23,830. Silver (0.999) declined by Rs 1,300 and closed at Rs 36,250 (per kg).