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

Last Updated: Sunday, May 19, 2013, 09:05
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices held at their mid-session level by losing around Rs 250 per ten grams in futures trade Wednesday as participants continued to cut their positions, tracking a weak global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in June, declined by Rs 245 to Rs 26,460 per ten grams as against its previous close of Rs 26,707.

Similarly, silver for delivery in July dropped further by Rs 858 to Rs 43,658 per kg compared to Rs 44,516 on Tuesday.

Meanwhile, gold price witnessed its second biggest loss this year of Rs 600 to Rs 27,300 per 10 grams at Delhi bullion market due to reduced offtake amid weak global trend.

Silver prices followed suit and dropped by a massive Rs 800 to Rs 44,700 per kg on reduced offtake by jewellers and industrial units.

Gold prices in overseas markets, which normally set price trend on the domestic front, fell for a fifth consecutive session today, their longest losing streak in over two months, as economic optimism, strengthening dollar and record high US equities dimmed its appeal as a so-called safe haven.

Spot gold last traded down USD 14.70 or 1.03 percent at USD 1,412.10 per ounce.

In New York, gold for June delivery on Tuesday fell by USD 9.80, or 0.7 percent, to settle at USD 1,424.50 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.

Chennai

Standard gold price moved lower by Rs 390 to Rs 27,090 per ten grams as against its previous close of Rs 27,480.

Likewise, silver tanked by Rs 1,170 to Rs 44,010 per kg from Rs 45,180.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity tumbled by Rs 600 each to Rs 27,300 and Rs 27,100 per 10 grams, respectively, after surging Rs 380 each in yesterday.

Sovereigns, however, held steady at Rs 24,000 per piece of eight grams in scattered deals.

In a similar fashion, silver ready plunged by Rs 800 to Rs 44,700 per kg and weekly-based delivery by Rs 930 to Rs 43,940 per kg.

However, silver coins continued to be asked around previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity shed Rs 270 to finish at Rs 26,760 per 10 gm from Tuesday's closing level of Rs 27,030.

Pure gold of 99.9 percent purity fell by Rs 255 to conclude at Rs 26,900 per 10 gm, as compared to Rs 27,155.

Silver ready (.999 fineness) tumbled by Rs 715 to end at Rs 44,695 per kg from Rs 45,410 yesterday.
Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June, declined by Rs 245 to Rs 26,460 per ten grams as against its previous close of Rs 26,707.

Similarly, silver for delivery in July dropped further by Rs 858 to Rs 43,658 per kg compared to Rs 44,516 on Tuesday.

International markets

Spot gold last traded down USD 14.70 or 1.03 percent at USD 1,412.10 per ounce.

In New York, gold for June delivery on Tuesday fell by USD 9.80, or 0.7 percent, to settle at USD 1,424.50 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

Holdings in the SPDR Gold Trust, the world's largest gold-backed ETP, stood at 1,051.65 tonnes on Monday, unchanged from Friday. But the holdings still remained at a four-year low.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 26,900 (-255) / SILVER: Rs 44,695 (-715)

Delhi
GOLD: Rs 27,300 (-600)/ SILVER : Rs 44,700 (-800)

Chennai
GOLD: 27,090 (-390) / SILVER: Rs 44,010 (-1,170)

Kolkata
GOLD: Rs 27,525 / SILVER: Rs 44,900

Bangalore
GOLD: Rs 27,331/ SILVER: Rs 45,000

Hyderabad
GOLD: Rs 28,000 / SILVER: Rs 48,000

With Agency Inputs





First Published: Wednesday, May 15, 2013, 09:02


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