Gold prices remain upbeat

Gold prices remain upbeat
Highlights

Amidst expectations of higher GDP growth figures due to be announced shortly in the US coupled with weak $ and bond yield, the yellow metal in New York staged smart recovery after touching the low of $1265 (per Oz) finally closed at $1285.85. Silver closed at $15.06.

Hyderabad: Amidst expectations of higher GDP growth figures due to be announced shortly in the US coupled with weak $ and bond yield, the yellow metal in New York staged smart recovery after touching the low of $1265 (per Oz) finally closed at $1285.85. Silver closed at $15.06.

Other economic parameters remained quite strong. $ once again touched the psychological high of Rs.70.01 while British Pound stood at Rs 90.22.

Platinum and palladium closed at Rs 26,780 and Rs 31.035.50 (per 10 gms). Copper closed at Rs.445 (per kg).

Similarly, Sensex and Nifty 50 appreciated and closed at 39,067.33 and 11,754.70 points respectively. Gold MCX stood at Rs 31,399.

Due to ongoing general elections and resultant increased vigilance the jewellery market remained lackluster.

Standard gold (24 carats) after closing at Rs 31,670 (per 10 gms) in the previous week, remained upbeat during the last week and closed at Rs 32,050 or Rs.380 higher.

Ornamental Gold (22 carats) followed suit and closed at Rs.30,400.

Silver (0.999) too, appreciated by Rs 300 and closed at Rs 37,550 (per kg). Trade volumes were low despite the marriage season going in top gear.

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