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

Last Updated: Tuesday, May 14, 2013, 11:01
 
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Gold price today: Latest updates

Zee Media Bureau

Gold prices continued to remain under pressure on Saturday, falling by another Rs 125 to Rs 27,700 per ten grams in Delhi bullion market due to sustained selling by stockists amid a weak global trend as a stronger dollar curbed demand for the metal as an alternative investment.

Silver also declined by Rs 200 to Rs 45,800 per kg on reduced offtake by industrial units and coin makers.

Meanwhile, gold prices recovered by Rs 156 in futures trade today but failed to regain Rs 27K-mark as participants extended their positions at prevailing levels, taking support from rising retail demand in spot markets.

However, downtrend in global market capped the upside.

At the Multi Commodity Exchange (MCX), gold for delivery in June, moved higher by Rs 156 to Rs 26,999 per ten grams as against its previous close of Rs 26,636.

Similarly, silver for delivery in July recovered by Rs 222 to Rs 45,284 per kg compared to Rs 44,491 on Friday.

Gold prices in overseas markets, which normally set price trend on the domestic front, fell 2.2 percent to a two-week low due to strong dollar, rising stock markets and drop in US weekly jobless claims to their lowest level since 2008.

In New York, gold for June delivery fell by USD 32, or 2.2 percent, to settle at USD 1,436.60 an ounce on the Comex division of the NYMEX.

The Japanese currency, yen on Friday fell to 101.98 yen per dollar, the lowest since October 2008, triggered a sell-off in oil and gold.

On Thursday, US data showed that new claims for jobless benefits dropped to the lowest level in more than five years, ticking down 4,000 to 323,000.

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 35 to Rs 27,370 per ten grams as against its previous close of Rs 27,335.

Silver also moved higher by Rs 195 to Rs 45, 390 per kg from Rs 45,195.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity fell by Rs 125 each to Rs 27,700 and Rs 27,500 per 10 grams, respectively. It had lost Rs 25 yesterday. Sovereigns also declined by Rs 100 to Rs 23,900 per piece of eight grams.

In line with the general weak trend, silver ready lost Rs 200 at Rs 45,800 per kg, while weekly-based delivery rose by Rs 90 to Rs 45,240 per kg on scattered speculative buying.

On the other hand, silver coins held steady at Rs 75,000 for buying and Rs 76000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity rose by Rs 65 per 10 gm to Rs 27,375 from Thursday's closing level of 27,310.

Pure gold of 99.9 percent purity advanced by Rs 55 per 10 gm to Rs 27,500 from Rs 27,445 .

Silver ready (.999 fineness) declined by Rs 305 per kg to Rs 45,790 as against Rs 46,095 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June, moved higher by Rs 156 to Rs 26,9999 per ten grams as against its previous close of Rs 26,636.

Similarly, silver for delivery in July recovered by Rs 222 to Rs 45,284 per kg compared to Rs 44,491 on Friday.

International markets

In New York, gold for June delivery fell by USD 32, or 2.2 percent, to settle at USD 1,436.60 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 rose 0.26 percent to 1,054.18 tonnes on Thursday from 1051.47 tonnes on Wednesday, but are still near 4-year low.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27,500 (+55) / SILVER: Rs 45,790 (-305)

Delhi
GOLD: Rs 27,700 (-125)/ SILVER : Rs 45,800 (-200)

Chennai
GOLD: 27,370 (+35) / SILVER: Rs 45,390 (+195)

Kolkata
GOLD: Rs 27,810 (+35) / SILVER: Rs 45,850 (+400)

Bangalore
GOLD: Rs 27,717 / SILVER: Rs 45,700

Hyderabad
GOLD: Rs 27,800 / SILVER: Rs 48,000

With Agency Inputs





First Published: Saturday, May 11, 2013, 09:36


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