Slight decline in ornament gold price

Slight decline in ornament gold price
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Highlights

Even as the World Health Organisation (WHO) and world governments sounded alarm over Omicron, the pandemic has been spreading like a wild fire throughout the world.

Hyderabad: Even as the World Health Organisation (WHO) and world governments sounded alarm over Omicron, the pandemic has been spreading like a wild fire throughout the world. Following this, global markets are simmering with uncertainty looming large, practically over all segments of economy.

Consequently, New York gold closed at $1,795.63 (per Ounce) while silver closed at $ 22.30 (per Ounce). Platinum and Palladium closed at $308.65 (per 10 gms) and $ 602.80 (per 10 gms) respectively.

Local markets revealed a firm sentiment despite the chilling fear of trade disruption if the Omicron spread widens. The standard gold (24 carats) declined by Rs 930 and closed at Rs 48,660 (per 10 gms). Ornamental gold followed suit and was quoted in the range of Rs 44, 510 – 44,610 on the closing day. Silver (0.999) too, declined by Rs 2,000 and closed at Rs 64,600 (per kg).

COMMODITIES

The sentiment in principal wholesale commodity markets in twin cities remained moderate due to escalating Omicron pandemic. Rythu Bazars and the various commodity markets located in Begum Bazar, Kishangunj, Mukthyargunj, Risala Abdullah, Mir AlamMandi, Dilsukhnagar, Kukatpally, Bowenpally, General Bazar recorded moderate trading.

During the week, common pulses - tuar dal, masoor dal, moong dal and urad dal and commodities like chillies and garlic remained unchanged at their respective last week's closing levels, while staple food-grains and common edible recorded a negligible decline.

The NECC wholesale egg-price in Hyderabad further declined by Rs 7 and closed at Rs 440 (per 100). The highest price of Rs 530 was recorded at Kolkatta, while Warangal recorded the lowest of Rs 442.

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