Gold falls slightly

Hyderabad: Amidst hectic efforts by major world powers including India to bring a halt to the ongoing fierce war between Russia and Ukraine, the economic doom appears to be certain. Considering the unfortunate possibility of Russia using atom bomb, the break out of World War III cannot be ruled out.

In this gloomy scenario New York gold closed at $1,925.60 (per Ounce) while silver closed at $24.61(per Ounce). Platinum and Palladium closed at $984.00 (per Ounce) and $2,215.00 (perOunce) respectively.

Other economic parameters remained strong. Brent closed at $104.39 (per barrel), Crude MCXoil was quoted at Rs 7,538 (per barrel). Gold MCX stood at Rs 51,275 (per 10gm), MCXSilver closed at Rs 66,776 (per kg) and Copper MCX closed at Rs 816.25 (per kg). Sensex and Nifty50 closed at 59,276.69 and 17,670.45 points.

In local markets, standard gold (24 carats) declined by Rs 390 and closed at Rs 52,310 (per10 gm). Ornamental gold was quoted in the range of Rs 47,850 – 47,950 on the closing day. Silver (0.999) too, declined by Rs 2,100 and closed at Rs 71,300 (per kg).

Commodities

The sentiment in principal commodity markets in Hyderabad remained from moderate to strong. Rythu Bazars and the various commodity markets in Begum Bazar, Kishangunj, Mukthyargunj, Risala Abdullah, Mir Alamn Mandi, Dilsukhnagar, Kukatpally, Bowenpally and General Bazar recorded moderate trading. During the week, tuar dal, masoor dal, moong dal and urad dal andcommodities like chillies and garlic remained unchanged at their respective last week's closing levels, while staple food-grains and common edible oil closed yet higher levels. (NVS)