Metal, commodity markets on hold
Hyderabad: The dramatic turn of events in Afghanistan, which put the Taliban out of control, not only created unrest in the Pashtun country, but also baffled political observers around the world. With this development, global markets are in standby and standby mode.
As a result, New York gold closed at $ 1,780.50 (per ounce) while silver fell and closed at $ 23.03 (per ounce). Platinum and Palladium closed at $ 990 (per ounce) and $ 2,204 (per ounce) respectively.
In local markets, standard gold (24 karat) appreciated another Rs 170 and closed at Rs 48,170 (per 10g). Ornamental gold also followed suit and was traded between Rs 44,050 and Rs 44,150 on the closing day. Silver (0.999) fell further by Rs 6,500 and closed at Rs 61,700 (per kg).
Following the ban on trade with Afghanistan, the importation of poppy seeds (Khus-Khus) and other goods, however, would continue to enter India by smuggling. Poppy seeds, which have sold for Rs 1,400 (per kg) so far, soared to Rs 2,600-2,800 (per kg) after the capture of Kabul by the Taliban.
Sentiment in major commodity wholesale markets in the Twin Cities has become subdued due to sporadic rain showers during the current monsoon. Rythu Bazars and the various commodity markets located at Begum Bazar, Kishangunj, Mukthyargunj, Risala Abdullah, Mir Alam Mandi, Dilsukhnagar, Kukatpally, Bowenpally, General Bazar moderate trade.
During the week, common legumes such as tuar dal, masoor dal, moong dal, urad dal and staples like chili peppers and garlic remained unchanged at their respective closing levels of the week. last week, while staple grains and common edibles saw a negligible decline. (NVS)