Gold prices rise marginally

Hyderabad: Following legitimate fear of the US President Donald Trump's likelihood of facing the impeachment proceedings, the forward march in yellow metal slowed down and it closed at $1,467.12 (per ounce), moderately higher than the previous week.

Silver too, followed suit and closed at $16.95. Other precious metals viz. Platinum and Palladium closed at $888 and $1,686 respectively.

Other economic parameters, including Brent and crude oil, remained strong. Brent closed at the higher level of $63.45 (per barrel) while crude oil closed at $4,134. At home, Gold MCX closed at Rs 37,994 (per 10 gms) while

silver MCX closed at Rs 44,457 (per kg).

During the week gold (24 carats) recorded an appreciation of Rs 140 and closed at Rs 38,360 (per 10 gms). Ornamental gold followed suit and closed in the range of Rs.36,460 - 36,560.

Silver (0.999) too, moved in tandem and closed at Rs 44,300 (per kg) after gaining Rs 400 over previous week.

COMMODITIES

The sentiment in principal wholesale commodity markets in different localities of Hyderabad and Secunderabad continued to be from moderate to strong.

Ginger, garlic, chilli, edible oils and til seeds recorded marginal appreciation during the week, while common pulses such as tuar daal, moong daal, urad daal and masoor daal remained unchanged.

The market sources inform that this season's arrivals of coriander have increased by about 16 per cent. Therefore, its price has been ruling at lower levels.

On the other hand, traders have exhausted the old stock of chillies which has given extra support to their price levels.

The sentiment in common vegetables remained moderate. The NECC wholesale egg price in the twin cities closed at Rs 417 (per 100) or Rs 31 higher than the closing price in the last week.

With the onset of winter season in most parts of the country, the egg prices have taken the northern route. At all production centres, the wholesale price for 100 eggs remained above Rs 400.

Lucknow recorded the highest price of Rs 497 while Hospet the lowest of Rs 405 in the country.