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

Last Updated: Wednesday, May 08, 2013, 21:35
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices continued their downtrend in Delhi bullion market Wednesday by falling further by Rs 85 to Rs 27,565 per ten grams on subdued physical off-take at prevailing levels.

However, silver found scattered buying support from industrial units and recovered by Rs 400 to Rs 45,700 per kg.

Meanwhile, gold prices managed to recover marginally from their yesterday's losses by adding Rs 66 to Rs 26,789 per ten grams in futures trade today on bargain-hunting, supported by uptrend in global market.

At the Multi Commodity Exchange (MCX), gold for delivery in June, recovered by Rs 123 to Rs 26,845 per ten grams as against its previous close of Rs 26,722.

Similarly, silver for delivery in July moved higher by Rs 47 to Rs 44,908 per kg compared to Rs 44,861 per kg yesterday.

Gold prices in overseas markets, which normally set price trend on the domestic front, jumped by USD 6.30 or 0.43 percent to USD 1,459.90 per ounce today on support of China's demand.

China's net gold imports from Hong Kong hit a record in March and the prospect of surging demand in the coming months may further support bullion prices.

But upside was capped by subdued buying in physical market, strong equities and continuous fall in bullion exchange-traded fund holdings.

In New York, gold for June delivery however, traded lower by USD 19.20 or 1.3 percent to settle at USD 1,448.80 an ounce on the Comex division of the NYMEX yesterday.

Gold prices sank to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.

Chennai

Standard gold price moved lower by Rs 195 to Rs 27,215 per ten grams as against its previous close of Rs 27,410.

Likewise, silver settled down by Rs 165 to Rs 44,885 from Rs 45,050 per kg.

Mumbai

Standard gold of 99.5 percent purity dropped by Rs 150 to finish at Rs 27,000 per 10 gm from Tuesday's closing level of Rs 27,150.

Pure gold of 99.9 percent purity also shed Rs 145 to close at Rs 27,145 from Rs 27,290.

However, silver ready (.999 fineness) advanced by Rs 165 to conclude at Rs 45,660 per kg, compared to Rs 46,495 yesterday.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity fell by Rs 85 each to Rs 27,565 and Rs 27,365 per 10 gm, respectively. It had lost Rs 220 yesterday. Sovereign also lost Rs 100 at Rs 23,900 per piece of eight gram.

On the other hand, silver ready recovered by Rs 400 to Rs 45,700 per kg and weekly-based delivery by Rs 235 to Rs 44,865 per kg. The white metal had lost Rs 900 in the previous session.

Meanwhile, silver coins lacked necessary buying support and dropped by Rs 1,000 to Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June, recovered by Rs 123 to Rs 26,845 per ten grams as against its previous close of Rs 26,722.

Similarly, silver for delivery in July moved higher by Rs 47 to Rs 44,908 per kg compared to Rs 44,861 per kg yesterday.

International markets

Spot gold traded higher by USD 6.30 or 0.43 percent to USD 1,459.90 per ounce today.

In New York, gold for June delivery however, traded lower by USD 19.20 or 1.3 percent to settle at USD 1,448.80 an ounce on the Comex division of the NYMEX.

Gold prices sank to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.42 percent to 1,057.79 tonnes on Tuesday. In terms of ounces, ETF holdings dropped to 34,008,852 ounces -- the weakest since early 2009.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27,145 (-145) / SILVER: Rs 45,660 (+165)

Delhi
GOLD: Rs 27,565 (-85)/ SILVER : Rs 45,700 (+400)

Chennai
GOLD: 27,215 (-195) / SILVER: Rs 44,885 (-165)

Kolkata
GOLD: Rs 27,600 (-170) / SILVER: Rs 45,500 (+200)

Bangalore
GOLD: Rs 27,606 / SILVER: Rs 45,900

Hyderabad
GOLD: Rs 27,860 / SILVER: Rs 48,800

With Agency Inputs



First Published: Wednesday, May 08, 2013, 08:58


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