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

Last Updated: Thursday, May 30, 2013, 11:15
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices in futures trade extended their early gains in evening session of trade Wednesday as market players created more fresh positions taking positive cues from the global market.

At the Multi Commodity Exchange (MCX), gold for delivery in June gained further by Rs 133 to trade at Rs 26,544 per ten grams against its previous close of Rs 26,411.

Similarly, silver for delivery in July moved higher by Rs 245 to Rs 43,507 per kg compared to Rs 43,262 on Tuesday.

Gold prices in overseas markets, which normally set price trend on the domestic front, moved closer to USD 1,400 an ounce today, taking a cue from broad dollar losses and falling stock markets with residual support from Chinese physical buying after prices fell 1 percent in the prior session,

But the root of weakness in wider markets - improved US data suggesting the Federal Reserve might taper its monetary stimulus programme - was also seen as a catalyst to ultimately take bullion prices lower.

Persistent outflows from gold-backed funds (EFTs) were expected to heap more pressure on prices after spectacular falls in April that saw gold hit a two-year low.

Spot gold last traded up USD 12 or 0.87 percent at USD 1,394.40 an ounce, after falling to USD 1,373.14 on Tuesday.

It rose 2 percent last week - its strongest weekly percentage gain in a month - though the metal is down 17 percent for the year.

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 Delhi spot market, gold prices gained Rs 100 to Rs 27,050 per ten gram here Wednesday on the back of firming global trend.

On the other hand, silver lost Rs 60 to Rs 43,940 per kg on lack of follow up support.

Chennai

Standard gold price inched up by Rs 10 to Rs 26,785 per ten grams as against its previous close of Rs 26,775.

However, Silver declined by Rs 320 to Rs 43,560 per kg from Rs 43,880.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity rose by Rs 10 each to Rs 27,050 and Rs 26,850 per ten gram, respectively.

Sovereign held unchanged at Rs 23,700 per piece of eight gram.

However, silver ready lost Rs 50 to Rs 43,940 per kg and weekly-based delivery by Rs 150 to Rs 43,210 per kg on reduced offtake by speculators.

Silver coins continued to be asked at last level of Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity rose by Rs 240 to conclude at Rs 26,630 per 10 gm from Tuesday's closing level of Rs 26,390.

Pure gold of 99.9 percent purity shot up by Rs 245 to end at Rs 26,775 per 10 gm from Rs 26,530.

Silver ready (.999 fineness) firmed up by Rs 230 to conclude at Rs 44,660 per kg as against Rs 44,430 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June gained further by Rs 133 to trade at Rs 26,544 per ten grams against its previous close of Rs 26,411.

Similarly, silver for delivery in July moved higher by Rs 245 to Rs 43,507 per kg compared to Rs 43,262 on Tuesday.

International markets

Spot gold last traded up USD 12 or 0.87 percent at USD 1,394.40 an ounce, after falling to USD 1,373.14 on Tuesday.

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 SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell to 1,012.25 tonnes on Tuesday, their lowest since February 2009.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 26,775 (+245) / SILVER: Rs 44,660 (+230)

Delhi
GOLD: Rs 27,050 (+10) / SILVER: Rs 43,940 (-60)

Chennai
GOLD: Rs 26785 (+10) / SILVER: Rs 43,560 (-320)

Kolkata
GOLD: Rs 27,015 (+115) / SILVER: Rs 43,850 (+50)

Bangalore
GOLD: Rs 27,091 (+174) / SILVER: Rs Rs 44,700 (+100)

Hyderabad
GOLD: Rs 27,300 (+300) / SILVER: Rs 45,300 (+800)

With Agency Inputs



First Published: Wednesday, May 29, 2013, 12:54


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