Gold rates continue to decline

Hyderabad: Even as hot and cold relationship between the two superpowers, US and China eluded the end of trade war, gold continued to be a hot favourite of global investors.

Though during November gold declined by $39 or 2.63 per cent, the under current is fairly strong.

New York gold closed at $1,466.18 (per oz). Silver too, remained firm and closed at $16.98.

Other economic parameters remained upbeat. Gold MCX closed at Rs.38,782 (per 10 gm) while Silver MCX closed at Rs 44,506 (per kg).

Similarly, Brent and Crude oil recorded a moderate decline and closed at $60.73 (per barrel) and 3,969 respectively. Copper stood at Rs 432 (per kg). Ny Met closed at $57.93.

In the local market, standard gold (24 carats) closed lower by Rs 160 at Rs.38,100 (per 10 gms). Ornamental gold also moved in tandem and was quoted in the range of Rs 36,180-36,280.

Silver (0.999) too, declined by Rs 200 and closed at Rs 44,300 (per kg). Platinum and Palladium closed at Rs 28,270 (per 10 gms) and Rs 39, 263.83 respectively.

COMMODITIES

The sentiment in principal wholesale commodity markets in different localities of Hyderabad remained strong. Among perishables, once again onions have taken the centre space.

Still the people have to buy at high prices because there is no alternative. Other common vegetables too ruled at higher levels.

The NECC wholesale egg price in Hyderabad zoomed by Rs 21 at the weekend closing price of Rs 441 (per 100).

The highest price of Rs 517 was recorded at Varanasi while the lowest of Rs 431 was recorded at Namakkal. In view of the ongoing winter season, the egg price has been on a rise.