Gold price extends yesterday's gains, hovers near Rs 29,300

At the Multi Commodity Exchange (MCX), gold for delivery in April edged higher by Rs 45 to Rs 29,257 per ten grams after moving in range of Rs 29,128 - Rs 29,283.

Last Updated: Jan 14, 2014, 21:06 PM IST

Zee Media Bureau

Gold prices extended their yesterday's gains by Rs 45 to Rs 29,257 per ten grams in futures trade Tuesday as some of the market participants enlarged their positions even a sideways trend overseas.

Read more on Gold 2014 Outlook

At the Multi Commodity Exchange (MCX), gold for delivery in April edged higher by Rs 45 to Rs 29,257 per ten grams after moving in range of Rs 29,128 - Rs 29,283.

Similarly, silver for delivery in March gained by Rs 141 to Rs 45,259 per Kg.

Gold in overseas markets, which normally set price trend on the domestic front, failed to extend its gains for the third consecutive day on profit-booking.

Spot gold last traded down USD 1.90 or 0.15 percent at USD 1,251.50 an ounce after making a high of USD 1,255.40 in intra-day trade.

Read more on Commodity Market 2014 Outlook

Meanwhile, gold prices recovered by Rs 200 to Rs 30,400 per ten grams at Delhi bullion market on fresh buying by stockists for the marriage season amid a firm global trend.

Silver also moved up by Rs 320 to Rs 45,120 per kg on increased offtake by industrial units and coin makers.