Gold rates appreciate marginally

Hyderabad: As was expected the on-going trade war between US and China is hopefully drawing near the peaceful end. Consequently, gold ruled at the lower level and after touching the lowest level of $1290, finally closed at $1291.30. The outlook for next week is weak to moderate sentiment in global bullion markets.

Other important economic parameters were as follows - Ny.Mex 63.26, Nifty 50 and Sensex 11,666 and 38,862.63 points respectively. Rupee against $ stood at Rs 69.22 while against British Pound at Rs 90.26. Silver in the international market was quoted at $15.08 per ounce.

Gold MCX and Silver MCX closed at Rs 31,729 (per 10 gms) and Rs 37,519 (per kg). Platinum and palladium closed at Rs 19,167 (per 10 gms) and Rs 30,536 respectively. Copper MCX was quoted at 443.25. Similarly, Brent and Crude too, recorded marginal appreciation and closed at $70.32 and Rs 4362 (per barrel).

At home, the precious metals remained divergent while traders awaited fresh bout of buying spree.

Standard gold (24 carats) after closing at Rs 31,700 in the previous week, opened at the same level. During the week, gold moved within a narrow margin and closed at Rs 31,800 or Rs 100 higher. Ornamental gold too, moved in tandem and was quoted in the range of Rs 30,200-30,300.

Silver (0.999), on the other hand, almost remained steady and finally closed at Rs 37,550 (per kg) or Rs 150 lower than the previous week's closing mark.