Soaring prices take toll on gold sales

Hyderabad: Gold remained buoyant and closed at $1,584. 74 (per Ounce) while silver, followed suit and closed at $16.66 (per Ounce). Platinum and Palladium also marched forward and closed at $864 (per 10 gms) and $2,489 (per 10 gms) respectively.

Other economic parameters too moved northward. Brent closed at $50.50 (per barrel) while Crude MCX oil was quoted at Rs 3,263 (per barrel). Gold MCX stood at Rs 41,397 (per 10 gms) while MCX Silver closed at Rs 43,979 (per kg). Sensex and Nifty 50 closed at 38,297.29 and 11,201.80 points respectively.

At home, the trading was dull. However, following the global trend, both the precious metals surged ahead. Standard gold (24 carats) appreciated by Rs 670 and closed at Rs 42,820 (per 10 gms). Ornamental gold too, moved in tandem and was quoted in the range of Rs 40,680 - 40,780 on the closing day. On the other hand, Silver (0.999) also appreciated significantly and closed at Rs 43,500 (per kg).