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

Last Updated: Saturday, June 01, 2013, 08:40
 
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Gold price today: Latest updates

Zee Media Bureau

Gold prices dipped below Rs 27,000-level by falling Rs 218 to Rs 26,940 per ten grams in futures trade Friday as market players indulged in offloading their exposures taking negative cues from the global market.

At the Multi Commodity Exchange (MCX), gold for delivery in June moved lower by Rs 218 to trade at Rs 26,940 per ten grams against its previous close of Rs 27158.

Similarly, silver for delivery in July tanked by Rs 716 to Rs 43,705 per kg compared to Rs 44,421 on Thursday.

Gold prices in overseas markets, which normally set price trend on the domestic front, fell below USD 1,400 per ounce, as the dollar rose slightly, but was still on track for its second weekly gain after weak US data eased speculation the Federal Reserve could soon scale back monetary easing.

Spot gold last traded down USD 21.30 or 1.51 percent at USD 1,393.40 an ounce, after touching its highest since May 15 of USD 1,421.

In New York, gold for August delivery moved higher by USD 20.20 or 1.5 percent to settle at USD 1,412 an ounce yesterday on the Comex division of the NYMEX. That was the highest close for a most-active contract since May 14.

Silver for July delivery also settled up 24 cents, or 1.1 percent at USD 22.69 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.

In Delhi spot market, prices of both gold and silver surged on increased stockists buying and a firming global trend.

While gold prices spurted by Rs 310 to Rs 27,790 per ten gram, silver gained Rs 500 to touch Rs 45,100 per kg.

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 330 to Rs 27,450 per ten grams as against its previous close of Rs 27,120.

Silver also inched up by Rs 45 to Rs 44,430 per kg from Rs 44,385 .

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity shot-up by Rs 310 each to Rs 27,790 and Rs 27590 per ten gram, respectively.

Sovereign also rose by Rs 100 to Rs 23,900 per piece of eight gram.

Silver ready surged by Rs 500 to Rs 45,100 per kg and weekly-based delivery by Rs 740 to Rs 44,560 per kg on sustained buying by speculators.

Silver coins rose by Rs 100 to Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity jumped by Rs 285 to finish at Rs 27,200 per 10 gm from Thursday's closing level of Rs 26,915.

Pure gold of 99.9 percent purity also rallied by a similar margin to end at Rs 27,345 per 10 gm from Rs 27,060.

Silver ready (.999 fineness), however fell by Rs 60 to settle at Rs 45,220 per kg from Rs 45,280 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June moved lower by Rs 218 to trade at Rs 26,940 per ten grams against its previous close of Rs 27158.

Similarly, silver for delivery in July tanked by Rs 716 to Rs 43,705 per kg compared to Rs 44,421 on Thursday.

International markets

Spot gold last traded down USD 21.30 or 1.51 percent at USD 1,393.40 an ounce, after touching its highest since May 15 of USD 1,421.

In New York, gold for August delivery moved higher by USD 20.20 or 1.5 percent to settle at USD 1,412 an ounce yesterday on the Comex division of the NYMEX. That was the highest close for a most-active contract since May 14.

Silver for July delivery also settled up 24 cents, or 1.1 percent at USD 22.69 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, rose on Wednesday for the first time since May 9, to 1,013.15 tonnes.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27345 (+285) / SILVER: Rs 45,220 (-60)

Delhi
GOLD: Rs 27,790 (+310) / SILVER: Rs 45,100 (+500)

Chennai
GOLD: Rs 27,450 (+330) / SILVER: Rs 44,430 (+45)

Kolkata
GOLD: Rs 27,710 (+315) / SILVER: Rs 44,850 (+350)

Bangalore
GOLD: Rs 27,651 (+345) / SILVER: Rs 45,200 (+200)

Hyderabad
GOLD: Rs 28,100 (+400) / SILVER: Rs 45,600

With Agency Inputs



First Published: Friday, May 31, 2013, 13:04


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