Gold prices drop; Silver rates pick-up
The sentiment in gold remained moderate thanks to the escalation of domestic issues which caused a lull in the ongoing trade war between the US and oil rich economies
Hyderabad: The sentiment in gold remained moderate thanks to the escalation of domestic issues which caused a lull in the ongoing trade war between the US and oil rich economies.
Gold and silver closed at $1194.54 and 17.33 (per Oz) respectively.
Crude oil rose to $73.25 even amidst the news of Iran's assurance of continuous supply despite economic sanctions imposed by the US.
Brent crude closed at $82.72 while Copper closed at $453.2.
At home, $ remained strong at the exchange value of Rs 72.48.
The British pound closed at Rs 94.49. Sensex and Nifty drifted marginally and closed at 36,227.14 and 10,930.45 points respectively.
Gold MCX closed at Rs.30,510 (per 10 gms).
Standard gold (24 carats) and Silver (0.999) moved in the opposite directions.
While gold recorded a decline of Rs 70 at Rs 31,580 closing, silver closed higher by Rs 400 at Rs 38,000 (per kg).
After Sraddha Paksha the jewellery market is expected to zoom.