Gold rates appreciate marginally

Hyderabad: Internationally the yellow metal softened a bit so also the white. The future trend in gold price would obviously depend on the outcome of trade talks between the US and China.

Consequently, New York gold declined by about $7 and closed at $1,459.51. Silver followed suit and closed at $16.56 or $0.43 lower than the previous week. Other economic parameters remained moderately strong.

After the RBI's announcement of economic outlook, Ny Met closed at 59.07. Brent recorded an appreciation of about $3.50 and closed at $64.27 (per barrel). Crude oil closed at Rs 3,979 (per barrel) while Copper stood at Rs 438.10 (per kg).

At home, the precious metals remained divergent. Gold MCX and Silver MCX closed at Rs 37,699 (per kg) and Rs 43545 respectively.

Platinum and Palladium moved up and closed at Rs 28,490 (per 10 gms) and Rs 43,080. In Hyderabad, standard gold (24 carats) appreciated by Rs 140 and closed at Rs 38,240 (per 10 gms).

Ornamental gold too, moved in tandem and was quoted in the range of Rs 36,320-36,420 (per 10 gms). Silver (0.999) on the other hand, declined by Rs 800 and closed at Rs 43,500 (per kg).

COMMODITIES

The sentiment in the principal wholesale commodity markets in twin cities remained from moderate to strong. While chilli and mustard remained steady, turmeric recorded a marginal decline. Ground nut oil and soyabean oil appreciated by Rs 20 and Rs 15 (per tin of 15 kg).

Staple food grains and pulses remained unchanged so also spices. Among perishables, onions took the centre space as its retail price zoomed in the domain of Rs.100-130 (per kg). Other common vegetables also recorded appreciation in the range of 20-45 per cent.

The NECC wholesale egg price all over the country remained above Rs 415 (per 100). In Hyderabad, a decline of Rs 16 was recorded at the closing price of Rs 425. Lucknow recorded the highest price of Rs 510 while Namakkal closed at Rs 415 which was the lowest in the country.