Gold rates appreciate marginally

Hyderabad: During the week, gold touched last three week's low and finally closed at $1,290 (per ounce). Silver too, ruled at lower level and closed at $14.95.

Other economic parameters were from moderate to strong. $ was exchanged for Rs 69.15 while British Pound for Rs 90.48.

Sensex improved and closed at 38,761.11 points while Nifty 50 too closed at the higher level and closed at 11,643.50 points.

Brent appreciated considerably and closed at 71.55 per barrel. Crude MCX moved in tandem and closed at 4,451. Among metals, Copper closed at 451.05. In MCX gold closed at Rs 31,862(per 10 gms) while Silver closed at 37,220 (per kg).

Platinum and palladium were quoted at Rs 26,600 and Rs 30,483 (per 10 gms) respectively.

In Hyderabad, like in other major cities, the business came to stand still due to increased vigilance by the Election Commission, police and Income tax authorities.

The business has suffered heavily right from the date of announcement of general elections and is likely to continue at least till the end of May.

Standard gold (24 carats) appreciated by Rs 100 and closed at Rs 31,800 (per 10 gms).

Ornamental gold (22 carats) also moved downward and closed in the range of Rs 30,200-30,300. Silver (0.999), on the other hand, declined marginally by Rs 150 and closed at Rs 37,550 (per kg).