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

Last Updated: Thursday, May 23, 2013, 09:11
 
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Gold price today: Latest updates

Zee Media Bureau

Gold prices zoomed by Rs 334 to Rs 26,444 per ten grams in futures trade Wednesday as market players enlarged their exposures, moving in tandem with a positive global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in June rose by Rs 334 to Rs 26,444 per ten grams as against its previous close of Rs 26,110.

Similarly, silver for delivery in July jumped by Rs 669 to Rs 43,839 per kg. The white metal settled lower by Rs 93 to 43,170 per kg on Tuesday.

Gold prices in overseas markets, which normally set price trend on the domestic front, extended their early gains smartly by over 2 percent today after Ben Bernanke in testimony offered no sign that he is ready to retreat from the Fed's latest round of bond buying.

"A premature tightening of monetary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery and causing inflation to fall further,” Bernanke said in testimony to the Joint Economic Committee of Congress.

The yellow metal had fallen for eight sessions out of the last nine as of Tuesday and is down nearly 18 percent for the year.

Spot gold was last trading up USD 28.40 or 2.06 percent at USD 1,405.40 an ounce after hitting an intra-day high of USD 1,416, but remains not far off a two-year low of USD 1,321.35 reached during a sell-off last month.

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.

In spot market of Delhi, gold prices today slipped by Rs 30 to Rs 27,020 per ten grams as a result of profit-selling by stockists.

On the other hand, silver prices rose due to high demand from industrial units and added Rs 100 to Rs 44,300, after a surge of Rs 2,030 in the previous session.

Chennai

Standard gold price gained further by Rs 120 to Rs 26,700 per ten grams as against its previous close of Rs 26,580.

Likewise, silver edged higher by Rs 70 to Rs 43,665 per kg from Rs 43,595.

Delhi

In the national capital,gold of 99.9 and 99.5 percent purity slipped by Rs 30 each to Rs 27,020 and Rs 26,820 per ten grams, respectively.

Sovereign remained steady at Rs 23,700 per piece of eight gram in limited deals.

Silver ready strengthened by Rs 100 to Rs 44,300 per kg and weekly-based delivery surged by Rs 990 to Rs 44,365 per kg on increased buying by speculators.

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

Mumbai

Standard gold of 99.5 percent purity moved higher by Rs 85 to conclude at Rs 26,445 per 10 gm from Tuesday's closing level of Rs 26,360.

Pure gold of 99.9 percent purity gained by Rs 80 to close at Rs 26,585 from Rs 26,505.

Silver ready (.999 fineness) rallied by Rs 800 to finish at Rs 44,915 per kg from overnight closing level of Rs 44,115.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June rose by Rs 334 to Rs 26,444 per ten grams as against its previous close of Rs 26,110.

Similarly, silver for delivery in July jumped by Rs 669 to Rs 43,839 per kg. The white metal settled lower by Rs 93 to 43,170 per kg on Tuesday.

International markets

Spot gold was last trading up USD 28.40 or 2.06 percent at USD 1,405.40 an ounce after hitting an intra-day high of USD 1,416, but remains not far off a two-year low of USD 1,321.35 reached during a sell-off last month.

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 of the largest gold-backed exchange-traded-fund, New York's SPDR Gold Trust, fell 0.8 percent on Tuesday to 1,023.08 tonnes, the lowest in more than four years.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 26,585 (+80) / SILVER: Rs 44,915 (+800)

Delhi
GOLD: Rs 27,020 (-30) / SILVER: Rs 44,300 (+100)

Chennai
GOLD: 26,700 (+120) / SILVER: Rs 43,665 (+70)

Kolkata
GOLD: Rs 26,975 / SILVER: Rs 44,300

Bangalore
GOLD: Rs 27,074 / SILVER: Rs 44,900

Hyderabad
GOLD: Rs 27,300 / SILVER: Rs 46,000

With Agency Inputs



First Published: Wednesday, May 22, 2013, 13:10


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