Gold, silver prices inch upwards

Amidst volatile global conditions, gold and silver managed to retain their strength during the week ended on Saturday. The New York gold ruled firm and closed at US dollars 1,584.32 per ounce. Silver followed suit and closed at 17.73 dollars per ounce.

Other economic parameters remained moderate. US dollar and British Pound closed at Rs 71.40 and Rs 93.32 while Euro closed at Rs 77.47, Australian Dollar stood at Rs 48.02 while Canadian Dollar closed at Rs 54.12.Similarly, Omani Riyal and Saudi Arabian Riyal closed at Rs 185.76 and Rs 19.07 while Kuwaiti Dinar and Swiss Franc were offered for Rs 234.59 and Rs 72.82 respectively. Singapore dollar closed at Rs.51.39.

At home, the precious metals remained firm. Gold MCX and Silver MCX closed at Rs 40,979 per 10 gms and Rs 46,227 per kg respectively. In Hyderabad, standard gold (24 carats) recorded an appreciation of Rs 210 and closed at Rs 40,820 per 10 gms.

Ornamental gold too moved in tandem and was quoted in the range of Rs 38,810 - 38,910 per 10 gm. Silver (0.999) too, gained marginally by Rs 100 and closed at Rs 46,200 per kg.

COMMODITIES

The sentiment in the principal wholesale commodity markets in twin cities, at Osman gunj, Risala Abdullah, Kishan gunj, Maharaj gunj, Mehboob gunj, Mir Alam Mandi. Begum Bazar, Dilsukhnagar, Saroornagar, Kukatpally, General Bazar, Bowenpally and Monda Market continued to be strong.

While red chilli of Guntur origin and mustard remained steady due to continuous new arrivals in the market, turmeric and coriander recorded a marginal appreciation.

Among perishables, common vegetables such as cabbage, cauli flower and other leafy vegetables sharply moved up in sync with the gradual departure of winter.

With the flooding of imported onions in markets, the price of this common vegetable has now settled down at the reasonably low level. However, other common vegetables recorded appreciation in the range of 30 - 40 per cent.

The NECC wholesale egg price all over the country zoomed up . In Hyderabad, a massive appreciation of Rs 81 was recorded at the closing price of Rs 401 per 100.Midnapore (kol) recorded the highest price of Rs 473 while Ludhiana closed at Rs 320 which was the lowest in the country.