Markets watch: Gold below Rs 32,000 mark on global cues, edible oils surge

From bullion to edible oils, pulses, sugar, gur and rice, here is a weekly wrap of how the prices of key commodities moved in the week ended May 18

Gold prices cracked below the Rs 32,000-mark by plunging Rs 450 to end at Rs 31,950 per 10 grams at the bullion market during the week taking weak cues from overseas markets and fall in demand from local jewellers at domestic spot market.

Silver followed suit and suffered a setback of Rs 200 at Rs 41,200 per kg due to reduced offtake by industrial units and coin makers.

Traders said, sentiment was downbeat largely in sync with a weak trend overseas, pressured by a firm US dollar amid surging US Treasury yields.

Globally, gold ended the week lower at USD 1,291.90 an ounce