Gold, Silver prices appreciate
Amidst expectations of better employment figures, the New York gold improved marginally
Hyderabad: Amidst expectations of better employment figures, the New York gold improved marginally.
However, with the $ gaining strength consistently, big market players preferred to wait and watch.
Standard gold closed at $1201.12 while after touching the record level of Rs 74 during the week, $ closed at Rs 73.77.
British pound was quoted at Rs 96.60 on the closing day. Among other economic parameters, Copper closed at $456.20. Brent closed at $84.67.
At home, MCX Crude closed at Rs 5553. MCX gold and silver after moving within a narrow bracket closed at Rs 31,429 (per 10 gms) and Rs 39,226 (per kg) respectively.
Sensex and Nifty suffered a deep shock and closed at 34,376.99 points and 10316.50 points respectively.
Both the precious metals moved northward during the week. Standard gold appreciated from the last week's closing level of Rs 31,580 to Rs 32,450, thus recording a gain of Rs 870.
Ornamental gold too, followed suit and was quoted in the range of Rs 29,950-30,050 on the closing day.
Silver (0.999) also moved in tandem and recorded a smart application of Rs 1200 at the closing price of Rs 39,200 (per kg).