Gold price today: Latest updates

Last Updated: Friday, June 7, 2013 - 21:05

Zee Media Bureau

Gold prices nosedived by Rs 380 to Rs 27,525 per ten grams in futures trade Friday as market players offloaded their positions, moving in tandem with a weak global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in June tanked by Rs 380 to Rs 27,525 per ten grams against its previous close of Rs 27,931.

Similarly, silver for delivery in July tumbled by Rs 1,008 to Rs 43,500 per kg compared to Rs Rs 44,532 on Thursday.

Gold prices in overseas markets, which normally set price trend on the domestic front, crashed by over 2.5 percent today as better than expected US jobs growth data pulled investors away from the metal, supporting hopes that the recovery of the world's biggest economy is still on track, which may quicken the end of the Federal Reserve's ultra-loose monetary policy.

The US economy added a modest 175,000 jobs in May, the Labor Department announced today.

The US unemployment rate pushed up a bare 0.1 percentage points to 7.6 percent.

Spot gold last traded down USD 35.40 or 2.50 percent at USD 1,379.30 per ounce after hitting an intra-day high of USD 1,418.50.

In New York, gold for August delivery fell USD 32.70, or 2.3 percent to USD 1,383.80 an ounce on the Comex division of the NYMEX.

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 rose by Rs 210 to hit another five-week high of Rs 28,300 per 10 grams on sustained buying by stockists amid a firming global trend.

Chennai

Standard gold price gained further by Rs 285 to Rs 28,125 per ten grams as against its previous close of Rs 27840.

Silver also rose by Rs 545 to Rs 44,955 per kg from Rs 44,410.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity surged by Rs 210 each to Rs 28,300 and Rs 28,100 per 10 grams, respectively, the levels last seen on April 29. The precious metal had gained Rs 430 yesterday.

Sovereigns also rose by Rs 100 to Rs 24,300 per piece of eight grams.

Similarly, silver ready rose by Rs 560 to Rs 45,100 per kg and weekly-based delivery by Rs 510 to Rs 44,480 per kg.

Silver coins shot up by Rs 1,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity hardened by Rs 225 to finish at Rs 27,795 per 10 gm from Thursday's closing level of Rs 27,570.

Pure gold of 99.9 percent purity also strengthened by a similar margin to end at Rs 27,930 per 10 gm from Rs 27,705.

Silver ready (.999 fineness) rose by Rs 230 to settle at Rs 45,525 per kg from Rs 45,295 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June tanked by Rs 380 to Rs 27,525 per ten grams against its previous close of Rs 27,931.

Similarly, silver for delivery in July tumbled by Rs 1,008 to Rs 43,500 per kg compared to Rs Rs 44,532 on Thursday.

International markets

Spot gold last traded down USD 35.40 or 2.50 percent at USD 1,379.30 per ounce after hitting an intra-day high of USD 1,418.50.

In New York, gold for August delivery fell USD 32.70, or 2.3 percent to USD 1,383.80 an ounce on the Comex division of the NYMEX.

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 0.3 percent to 1,007.74 tonnes on Thursday, as outflows resumed after holding steady nearly a week. Holdings are at four-year low.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27,930 (+225) / SILVER: Rs 45,525 (+230)

Delhi
GOLD: Rs 28,300 (+210) / SILVER: Rs 45,100 (+560)

Chennai
GOLD: Rs 28,125 (+285) / SILVER: Rs 44,955 (+545)

Kolkata
GOLD: Rs 27,935 (+415) / SILVER: Rs 44,400 (+250)

Bangalore
GOLD: Rs 28,223 (+214) / SILVER: Rs 45,300 (+200)

Hyderabad
GOLD: Rs 28,300 (+200) / SILVER: Rs 46,200 (+1,200)

With Agency Inputs

First Published: Friday, June 7, 2013 - 13:18

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