Gold, silver continue to shine as uncertainty rocking markets

Hyderabad: The global markets remained uncertain due to several factors such as increasing rate of Covid-19 throughout the world, North Korea once again at its old game of threatening the US in particular and rest of the world in general, and fast changing geo-political equations all over the world.

Gold remained buoyant and closed at $1,529. 31 per ounce, while silver followed the suit and closed at $14.66 per ounce. Platinum and Palladium also marched forward and closed at $766.35 per 10 gms and $1,869.75 per 10 gms respectively.

Other economic parameters moved southward. Brent closed at $34.97 per barrel, while Crude MCX oil was quoted at Rs.2,414 per barrel. While Gold MCX increased and stood at Rs40,348 per 10 gms even MCX Silver has seen an increase and closed at Rs40,487 per kg.

Sensex and Nifty-50 closed at Rs34,103.48 and Rs9,955.20 points respectively. Leading foreign currencies' exchange rates were: $: Rs.73.74, British Pound: Rs 90.75, Euro: Rs 82.42, Singapore $: Rs52.26, Swiss Franc: Rs77.75, Australian $: Rs45.71, Saudi Rial: Rs19.71, New Zealand Dollar: 44.85, Kuwaiti Dinar: Rs240.01, Omani Rial: Rs 192.18 and UAE Dirham: Rs20.14, Canadian Dollar $53.21.

At home, though the demand picked up due to ongoing marriage season, both the precious metals were divergent. Standard gold (24 carats) depreciated by a whopping Rs2,180 and closed at Rs42,290 (per 10 gms).

Ornamental gold too, moved in tandem and was quoted in the range of Rs40,120 - 40,220 on the closing day.