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

Last Updated: Saturday, May 11, 2013, 09:27
 
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Gold price today: Latest updates


Zee Media Bureau

Snapping a two-day losing trend, gold prices recovered sharply by Rs 285 to Rs 27,850 per 10 gm in Delhi bullion market Thursday on emergence of stockists buying for the wedding season.

Silver also advanced by Rs 300 to Rs 46,000 per kg on increased offtake by industrial units and coin makers.

Meanwhile, gold prices held above Rs 27,000 per ten grams level, continuing their yesterday's rally by another Rs 66 to Rs 27,160 in futures trade today as participants enlarged some of their positions.

However, downtrend in global market capped the upside.

At the Multi Commodity Exchange (MCX), gold for delivery in June, gained further by Rs 66 to Rs 27,160 per ten grams as against its previous close of Rs 27,093.

Similarly, silver for delivery in July rallied by Rs 433 to Rs 45,337 per kg compared to Rs 44,906 per kg Wednesday.

Gold prices in overseas markets, which normally set price trend on the domestic front, slipped by USD 4.50 per ounce pr 0.31 percent to 1,470.90 per ounce due to strong equities and continuous fall in bullion exchange-traded fund holdings.

Yesterday, gold for June delivery in New York however, traded higher by USD 24.90, or 1.7 percent to settle at USD 1,473.70 an ounce on the Comex division of the NYMEX on rising 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.

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 higher by Rs 305 to Rs 27,520 per ten grams as against its previous close of Rs 27,215.

Likewise, silver settled up by Rs 495 to Rs 45,380 per kg from Rs 44,885.

Mumbai

Standard gold of 99.5 percent purity rose by Rs 310 per 10 gm to Rs 27,310 from Wednesday's closing level of Rs 27,000.

Pure gold of 99.9 percent purity advanced by Rs 300 per 10 gm to Rs 27,445 from Rs 27,145.

Likewise, silver ready (.999 fineness) spurted by Rs 435 per kg to Rs 46,095 as against Rs 45,660 yesterday.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity rebounded by Rs 285 each to Rs 27,850 and Rs 27,650 per 10 gm, respectively. The yellow metal had lost Rs 305 in last two trading session. Sovereign followed suit and rose by Rs 100 to Rs 24,000 per piece of eight gram.

In line with a general firm trend, silver ready rose further by Rs 300 to Rs 46,000 per kg and weekly-based delivery by Rs 335 to Rs 45,200 per kg. The white metal had gained Rs 400 yesterday.

Silver coins also spurted by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June, gained further by Rs 66 to Rs 27,160 per ten grams as against its previous close of Rs 27,093.

Similarly, silver for delivery in July rallied by Rs 433 to Rs 45,337 per kg compared to Rs 44,906 per kg Wednesday.

International markets

Spot gold edged down by USD 4.50 or 0.31 percent to USD 1,470.90 per ounce.

Yesterday, gold for June delivery however, traded higher by USD 24.90, or 1.7 percent to settle at USD 1,473.70 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 0.60 percent to 1,051.47 tonnes on Wednesday from 1057.79 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 27,445 (+300) / SILVER: Rs 46,095 (+435)

Delhi
GOLD: Rs 27,850 (+285)/ SILVER : Rs 46,000 (+300)

Chennai
GOLD: 27,520 (+305) / SILVER: Rs 45,380 (+495)

Kolkata
GOLD: Rs 28,015 (+415 / SILVER: Rs 46,000 (+500)

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

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

With Agency Inputs



First Published: Thursday, May 09, 2013, 08:46


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