Gold price today: Latest updates
Quotes

Gold price today: Latest updates

Last Updated: Saturday, May 25, 2013, 08:28
 
 Comment 4
 
Gold price today: Latest updates


Zee Media Bureau

Gold prices failed to extend yesterday's rally and lost ground by Rs 134 to Rs 26,306 per ten grams in futures trade Friday as speculators offloaded their exposures, moving in tandem with a weak global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in June moved lower by Rs 134 to Rs 26,306 per ten grams as against its previous close of Rs 26,440.

Similarly, silver for delivery in July dropped by Rs 331 to Rs 43,240 per kg compared to Rs 43,571 on Thursday.

Gold prices in overseas markets, which normally set price trend on the domestic front, edged lower today as the dollar and equities regained momentum after a volatile trading session the day before, and as holdings in bullion-backed exchange-traded funds fell to fresh four-year low.

Spot gold last traded down USD 5.20 or 0.37 percent at USD 1,387.30 an ounce, holding near a two-year low of USD 1,321.35 reached in April.

Gold rose sharply on Thursday as investors sought its safe-haven status after the dollar and equity markets were hit by a slew of weak manufacturing data that indicated stagnant global economic growth.

In New York, gold for June delivery moved higher by USD 24.40 or 1.78 percent to settle at USD 1,391.80 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.

In spot market of Delhi, gold prices today extended losses for the third straight session by losing Rs 50 to Rs 26,950 per 10 grams on slackened demand at prevailing higher levels amid a weak global trend.

However, silver found some buying support from industrial units and recovered by Rs 100 to Rs 44,100 per kg.

Chennai

Standard gold price edged lower by Rs 45 to Rs 26735 per ten grams as against its previous close of Rs 26,780.

Likewise, silver edged lower by Rs 135 to Rs 43,495 per kg from Rs 43,630.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity shed another by Rs 50 each to Rs 26,950 and Rs 26,750 per 10 grams, respectively. It had lost Rs 50 in last two day. Sovereigns held steady at Rs 23,700 per piece of eight grams.

On the other hand, silver ready recovered by Rs 100 to Rs 44,100 per kg and weekly-based delivery by Rs 155 to Rs 43,325 per kg. The white metal had lost Rs 300 yesterday.

Although, silver coins remained stable at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity edged down by Rs 15 to conclude at Rs 26,430 per 10 gm from Wednesday's closing level of Rs 26,445.

Pure gold of 99.9 percent purity also eased by a similar margin to settle at Rs 26,570 per 10 gm from Rs 26,585.

Silver ready (.999 fineness) dropped sharply by Rs 505 to end at Rs 44,410 per kg as against Rs 44,915 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June moved lower by Rs 134 to Rs 26,306 per ten grams as against its previous close of Rs 26,440.

Similarly, silver for delivery in July dropped by Rs 331 to Rs 43,240 per kg compared to Rs 43,571 on Thursday.

International markets

Spot gold last traded down USD 5.20 or 0.37 percent at USD 1,387.30 an ounce, holding near a two-year low of USD 1,321.35 reached in April.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.15 percent to four-year lows of 1018.57 tonnes on Thursday.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 26,430 (-15) / SILVER: Rs 44,410 (-505)

Delhi
GOLD: Rs 26,950 (-50) / SILVER: Rs 44,100 (+100)

Chennai
GOLD: 26,735 (-45) / SILVER: Rs 43,495 (-135)

Kolkata
GOLD: Rs 26,950 (-65) / SILVER: Rs 43,950 ( -250)

Bangalore
GOLD: Rs 26,894 / SILVER: Rs 44,300

Hyderabad
GOLD: Rs 27,000 / SILVER: Rs 45,500

With Agency Inputs




First Published: Friday, May 24, 2013, 08:59


Comments


comments powered by Disqus
India`s top ten billionaires
India`s top ten billionaires
Pradhan Mantri Jan Dhan Yojana - In Pics
Pradhan Mantri Jan Dhan Yojana - In Pics
Apple Smartwatch unveiled
Apple Smartwatch unveiled
Apple iPhone 6, iPhone 6 plus
Apple iPhone 6, iPhone 6 plus
Samsung Galaxy Tab 4 Nook
Samsung Galaxy Tab 4 Nook

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved