Gold price today: Latest updates
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Gold price today: Latest updates

Last Updated: Thursday, June 27, 2013, 12:50
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices tumbled below Rs 26,000-level by melting further Rs 728 to Rs 25,831 per ten grams in futures trade Wednesday as market players offloaded their exposures in tandem with their global counterparts.

At the Multi Commodity Exchange (MCX), gold for delivery in August fell by Rs 728 to Rs 25.831 per ten grams as against its previous close of Rs 26,559 .

Similarly, silver for delivery in July moved lower by Rs 1,686 to Rs 38,977 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, hit three-year low today, falling for a seventh session out of eight, as strong US economic data boosted stocks and supported the Federal Reserve's plan to scale back its bond purchases in the next few months.

The yellow metal prices have been sliding since Fed Chairman Ben Bernanke laid out a strategy last Wednesday to wind down the bank's USD 85 billion monthly bond purchases on the back of a recovering economy.

Spot gold last traded down USD 49.10 or 3.84 percent at USD 1,229.50 an ounce after hitting an intra-day low of USD 1,223.40.

Gold's losses since the beginning of last week through Tuesday amount to 8 percent, or about USD 113 per ounce.

Silver fell over 2 percent to its lowest since August 2010.

In New York, gold for August delivery dropped USD 2 or 0.1 percent to settle at USD 1,275.10 an ounce on the Comex division of the NYMEX yesterday.

In Delhi spot market, gold prices today plunged to one-month low by losing Rs 620 to Rs 26,680 per 10 grams on hectic selling by stockists, triggered by a steep fall in the precious metal's prices overseas.

The current fall in the yellow metal prices placed it to a level last seen on May 28.

Silver followed suit and plunged by Rs 1,000 to Rs 40,500 per kg on poor offtake by industrial units and coin makers.

Chennai

Standard gold prices edged lower by Rs 75 to Rs 27,020 per ten grams as against its previous close of Rs 27,095

Similarly, silver prices moved lower by Rs 70 to Rs 41,285 per kg from Rs 41,355.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity suffered a setback of Rs 620 each to Rs 26,680 and Rs 26,480 per 10 grams, respectively, a level last seen on May 28.

Sovereigns followed suit and lost Rs 200 to Rs 24,000 per piece of eight grams.

In a similar fashion, silver ready nosedived by Rs 1,000 to Rs 40,500 per kg and weekly-based delivery by Rs 1,025 to Rs 39,590 per kg. Silver coins plunged by Rs 2000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity eased by Rs 15 to finish at Rs 26,825 per 10 gm from Monday's closing level of Rs 26,840.

Pure gold of 99.9 percent purity edged up by Rs 15 to conclude at Rs 26,965 per 10 gm from Rs 26,950.

Silver ready (.999 fineness) declined by Rs 50 to close at Rs 42,170 per kg from Rs 42,220 previously.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August fell by Rs 728 to Rs 25.831 per ten grams as against its previous close of Rs 26,559 .

Similarly, silver for delivery in July moved lower by Rs 1,686 to Rs 38,977 per kg.

International markets

Spot gold last traded down USD 49.10 or 3.84 percent at USD 1,229.50 an ounce after hitting an intra-day low of USD 1,223.40.

In New York, gold for August delivery dropped USD 2 or 0.1 percent to settle at USD 1,275.10 an ounce on the Comex division of the NYMEX yesterday.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 16.23 tonnes to 969.50 tonnes on Tuesday, to their lowest since February 2009.

Here are the city wise gold and silver rates:

(Gold rates per 10 gm/Silver rates per Kg)

Mumbai
GOLD: 26,965 (+15) / SILVER: Rs 42,170 (-50)

Delhi
GOLD: Rs 26,680 (-620) / SILVER: Rs 40,500 (-1,000)

Chennai
GOLD: Rs 27,020 / SILVER: Rs 41,285

Kolkata
GOLD: Rs 27,300 / SILVER: Rs 41,500

Bangalore
GOLD: Rs 27,289 / SILVER: Rs 41,900

Hyderabad
GOLD: Rs 27,300 / SILVER: Rs 43,500

With Agency Inputs


First Published: Wednesday, June 26, 2013, 09:22


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