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

Last Updated: Friday, May 31, 2013, 13:03
 
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Gold price today: Latest updates

Zee Media Bureau

Gold prices recovered from their early losses by adding Rs 203 to Rs 26,833 per ten grams in futures trade Thursday as market players created more positions at prevailing levels taking positive cues from the global market.

At the Multi Commodity Exchange (MCX), gold for delivery in June moved higher by Rs 203 to trade at Rs 26,833 per ten grams against its previous close of Rs 26,619 .

Similarly, silver for delivery in July gained by Rs 415 to Rs 44,122 per kg compared to Rs 43,677 on Wednesday.

Gold prices in overseas markets, which normally set price trend on the domestic front, jumped more than a percent to a one-week high today as investors retreated from falling equity markets, but the metal still risked losing its safe-haven appeal on worries the US Federal Reserve could scale back on its bullion-friendly bond buying programme.

Spot gold last traded up USD 12.20 or 0.88 percent at USD 1,405.90 an ounce, its highest since May 22, after moving in range of USD 1,411.80.

Gold rose around 1 percent in the previous session as a dollar drop and softer equities triggered physical buying.

In New York, gold for August delivery moved higher by USD 12.10 or 0.9 percent to settle at USD 1,391.80 an ounce yesterday on the Comex division of the NYMEX. Silver for July delivery also settled up 26 cents, or 1.2 percent at USD 22.45 an ounce.

The yellow metal 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 surged by Rs 430 to Rs 27,480 per ten gram in the national capital Thursday on stockists buying driven by a firming global trend.

A firming trend was also extended in silver on increased buying by industrial units and coin makers, lifting the prices by 660 to Rs 44,600 per kg, after loosing Rs 60 yesterday.

Meanwhile, the World Gold Council, an industry group, said Asian gold demand from this April to June will reach a quarterly record as bullion consumers in the region take possession of supply freed up by selling from ETFs.

Chennai

Standard gold price spurted by Rs 335 to Rs 27,120 per ten grams as against its previous close of Rs 26,785.

Silver also rallied by Rs 825 to Rs 44,385 per kg from Rs 43,560.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity rose by Rs 430 each to Rs 27,480 and Rs 27,280 per ten gram, respectively.

Sovereign also rose by Rs 100 to Rs 23,800 per piece of eight gram.

Silver ready shot up by Rs 660 to Rs 44,600 per kg and weekly-based delivery by Rs 610 to Rs 43,820 per kg on increased buying by speculators.

However, silver coins held unchanged at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity surged by Rs 285 to end at Rs 26,915 per 10 gm from overnight closing level of Rs 26,630.

Pure gold of 99.9 percent purity also spurted by a similar margin to conclude at Rs 27,060 per 10 gm from Rs 26,775.

Silver ready (.999 fineness) jumped by Rs 620 to finish at Rs 45,280 per kg from Wednesday's closing level of Rs 44,660.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June moved higher by Rs 203 to trade at Rs 26,833 per ten grams against its previous close of Rs 26,619 .

Similarly, silver for delivery in July gained by Rs 415 to Rs 44,122 per kg compared to Rs 43,677 on Wednesday.

International markets

Spot gold last traded up USD 12.20 or 0.88 percent at USD 1,405.90 an ounce, after moving in range of USD 1,411.80.

Gold rose around 1 percent in the previous session as a dollar drop and softer equities triggered physical buying.

In New York, gold for August delivery moved higher by USD 12.10 or 0.9 percent to settle at USD 1,391.80 an ounce yesterday on the Comex division of the NYMEX. Silver for July delivery also settled up 26 cents, or 1.2 percent at USD 22.45 an ounce.

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 27,060 (+285) / SILVER: Rs 45,280 (+620)

Delhi
GOLD: Rs 27,480 (+430) / SILVER: Rs 44,600 (+660)

Chennai
GOLD: Rs 27,120 (+335) / SILVER: Rs 44,385 (+825)

Kolkata
GOLD: Rs 27,395 (+380) / SILVER: Rs 44,500 (+650)

Bangalore
GOLD: Rs 27,306 (+215) / SILVER: Rs 45,000 (+300)

Hyderabad
GOLD: Rs 27,700 (+400) / SILVER: Rs 47,000 (+1700)

With Agency Inputs



First Published: Thursday, May 30, 2013, 09:13


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