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

Last Updated: Wednesday, June 05, 2013, 09:32
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices failed to hold Rs 27,000-level by falling Rs 199 to Rs 26,980 per ten grams in futures trade Tuesday as market players offloaded their exposures, moving in tandem with their global counterparts .

At the Multi Commodity Exchange (MCX), gold for delivery in June dropped by Rs 199 to Rs 26,980 per ten grams.

Yesterday, it was closed up by Rs 379 at Rs 27,190 per ten grams.

Silver for delivery in July declined by Rs 606 to Rs 43,808 per kg compared to Rs 44379 per kg on Monday.

Gold prices in overseas markets, which normally set price trend on the domestic front, edged lower today, as the dollar and European shares recovered some of the previous session's losses, while uncertainty over the timing of a pullback in the US Federal Reserve's stimulus programme continued to unnerve investors.

The metal had risen nearly two percent on Monday, when data showed US manufacturing activity had slowed to the lowest level in nearly four years, weakening arguments for the Fed to slow its USD 85 billion monthly bond-purchase scheme.

The central bank said in May that it would scale back its easing sooner if economic indicators showed signs of continued strengthening.

Spot gold last traded down USD 11.50 or 0.81 percent at USD 1,400.70 an ounce, after rising1.8 percent to USD 1,416.11 on Monday as the dollar tumbled on the weak manufacturing numbers.

In New York, gold for August delivery rose USD 18.90 or 1.4 percent to settle at USD 1,411.90 an ounce on the Comex division of the NYMEX.

Silver for July delivery also settled up 48 cents, or 2.2 percent at USD 22.72 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, gold prices spurted by Rs 245 to Rs 27,670 per 10 grams on sustained buying by stockists amid a firming global trend.

Silver ready rose by Rs 300 to Rs 44,800 per kg and weekly-based delivery by Rs 380 to Rs 44,120 per kg on speculative buying.

Chennai

Standard gold price increased by Rs 105 to Rs 27,290 per ten grams as against its previous close of Rs 27,185.

Silver also rose by Rs 210 to Rs 44,405 per kg from Rs 44,195.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity spurted by Rs 245 each to Rs 27,670 and Rs 27,470 per 10 grams, respectively. Sovereigns also moved up by Rs 100 to Rs 24,100 per piece of eight grams.

Silver ready rose by Rs 300 to Rs 44,800 per kg and weekly-based delivery by Rs 380 to Rs 44,120 per kg on speculative buying.

Silver coins, on the other hand, held steady at Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity spurted by Rs 160 to finish at Rs 27,060 per 10 gm from last Saturday's closing level of Rs 26,900.

Pure gold of 99.9 percent purity rose by Rs 155 to end at Rs 27,190 per 10 gm from Rs 27,035.

Silver ready (.999 fineness) also jumped by Rs 575 to conclude at Rs 45,250 per kg from weekend closing level of Rs 44,675.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June dropped by Rs 199 to Rs 26,980 per ten grams.

Yesterday, it was closed up by Rs 379 at Rs 27,190 per ten grams.

Silver for delivery in July declined by Rs 606 to Rs 43,808 per kg compared to Rs 44379 per kg on Monday.

International markets

Spot gold last traded down USD 11.50 or 0.81 percent at USD 1,400.70 an ounce, after rising1.8 percent to USD 1,416.11 on Monday as the dollar tumbled on the weak manufacturing numbers.

In New York, gold for August delivery rose USD 18.90 or 1.4 percent to settle at USD 1,411.90 an ounce on the Comex division of the NYMEX.

Silver for July delivery also settled up 48 cents, or 2.2 percent at USD 22.72 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 of New York's SPDR Gold Trust, the largest gold-backed exchange-traded-fund, remained unchanged on Monday, showing investors' growing confidence in the metal. The near-three week decline in the holdings came to a stop last Wednesday.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27,190 (+155) / SILVER: Rs 45,250 (+575)

Delhi
GOLD: Rs 27,670 (+245) / SILVER: Rs 44,800 (+300)

Chennai
GOLD: Rs 27,290 (+105) / SILVER: Rs 44,405 (+210)

Kolkata
GOLD: Rs 27,495 (+15) / SILVER: Rs 44,300 (Unchanged)

Bangalore
GOLD: Rs 27,478 (+147) / SILVER: Rs 44,900 (+200)

Hyderabad
GOLD: Rs 27,000 (-300) / SILVER: Rs 45,200 (-1,100)

With Agency Inputs



First Published: Tuesday, June 04, 2013, 10:42


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