Gold prices remain unchanged

Hyderabad: Gold and silver in the global markets ruled firm during the week ended Saturday. Consequently New York gold and silver closed at $1462.04 and 17.00 (per OZ).

Due to the escalating geo-political situation all over the world, the prices of precious metals are likely to remain in the upbeat during the weeks to come.

Other economic parameters, including crude oil, moved northward. Brent moved up further and closed at $63.50 (per barrel).

Platinum and Palladium closed at Rs 28,360 (per 10 gms) and Rs 39,500 respectively while Crude MCX and Copper at Rs 4,169 and Rs 4,330.10. Gold MCX stood at Rs 37,895 (per 10 gms) and Silver MCX at Rs 44,480 (per kg).

At home, both the precious metals remained unchanged. Standard gold (24 carats) declined by Rs 100 and closed at Rs 38,360 (per 10 gms).

Ornamental gold too, moved in tandem and was quoted in the range of Rs 36,300-36,430 on the closing day. Silver (0.999) appreciated by Rs 200 and closed at Rs 44,500 throughout the week.

The sentiment in gold and silver jewellery market is likely to firm up for the next couple of months.

Commodities

The sentiment in principal wholesale commodity markets in the twin cities was generally strong. Rythu Bazars and the commodity markets located in Begum Bazar, Kishangunj, Mukthyargunj, Risala Abdullah, Mir Alam Mandi, Dilsukhnagar, Kukatpally, Bowenpally, General Bazar witnessed good arrivals.

Most of the commodities including chillies, coriander, turmeric, tamarind, methi, mustard, rice, wheat, jawar, maize, ragi, ginger etc; showed a marginal decline.

Common pulses such as tuar dal, moong dal, urad dal and masoor dal remained unchanged while edible oils, sugar and Vanaspati showed a marginal increase.

Among vegetables, potatoes, sweet-potatoes, tomatoes, kandha and carrots recorded a marginal appreciation. On the other hand, cabbage, cauliflower, ribbed guard, snake guard, lady fingers, cucumber and French beans along with other leafy vegetables remained unchanged.

With the winter season setting in most part of the country, egg prices have taken the northern route. In Hyderabad, the NECC wholesale egg-price recorded an appreciation of Rs. 5 and closed at Rs. 417 (per 100).

The highest and lowest prices were recorded at Lucknow Rs 487 and Hospet Rs 400 respectively.