Gold rules firm

Gold rules firm
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Highlights

Gold rules firm. During the week ended Saturday, both the precious metals - gold and silver - remained firm. However, in the final tally, both gold and silver closed at lower levels.

Hyderabad (NVS): During the week ended Saturday, both the precious metals - gold and silver - remained firm. However, in the final tally, both gold and silver closed at lower levels. Standard gold (24 carats) closed at Rs 27,510 (per 10 gm) representing a decline of Rs 390 over previous week. The ornamental gold followed the suit and was quoted in the range of Rs 26,860 - 26,960 on the closing day. Silver (0.999) too declined by Rs 1,000 per kg and closed at Rs 39,000 per kg from Rs 40,000 in the previous week.

The sentiment in principal commodity markets at the Osmangunj, Risala Abdullah, Mir Alam Mandi, General Bazar, Saroornagar, Bowenpally, Kukatpally and Dilsukh Nagar remained strong. Staple food grains like wheat, jawar, maize and bajra remained unchanged. Garlic, coriander, jeera, tilseeds, ginger and tamarind moved northward owing to lower supplies while moong, chana and masoor dal declined marginally. Turmeric and chilies moved within narrow margin and closed at the last week’s respective closing levels.

In Mukhtyar Gunj and Kishan Gunj, cereals and pulses remained firm. The undertone in the wholesale edible oil market at Begum Bazar turned moderate. Similarly, other common edible oils such as cottonseed refined oil, rice-bran refined oil, rapseed oil and soyabean oil continued to remain from moderate to strong. In perishables, sentiment in common vegetables like potatoes, tomatoes, cabbage, cauli flower, lady’s finger, donda and leafy vegetables was firm.

The national wholesale egg market remained firm. In Hyderabad, the NECC price of eggs shot up by Rs 18 at the closing price of Rs 278 per 100. The lowest price of Rs 272 on Saturday in the country’s wholesale egg market was recorded in East and West Godavari and Vijayawada while Chennai recorded the highest price of Rs 345.

By Dr H C UPADHYAY

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