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

Last Updated: Wednesday, June 26, 2013, 14:53
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices moved higher by Rs 102 to Rs 27,971 per ten grams in futures trade Tuesday even it fell in the global market for a second straight session.

Weakening of rupee against US dollar mainly supported gold prices at domestic level.

At the Multi Commodity Exchange (MCX), gold for delivery in June rose by Rs 102 to settle at Rs 27,971 per ten grams against its previous close of Rs 27,869.

Similarly, silver for delivery in July traded up by Rs 214 at Rs 43,811 per kg compared to Rs 43,597 on Monday.

Gold price in overseas markets, which normally set price trend on the domestic front, dropped today as muted physical demand weighed on prices, alongside fears of any cut in the US Federal Reserve's USD 85 billion monthly bond purchases.

The Fed meets on June 18-19 against a backdrop of stronger-than-expected data on US retail sales and the job market. All markets are seeking clues on any scaling back of its extra economic stimulus, quantitative easing (QE).

Spot gold last traded down 0.3 percent at USD 1,386.31 an ounce. The yellow metal closed up about half a percent for the week on Friday, helped by strong demand for coins and bars, a pullback in US stocks and rising tensions in the Middle East.

In New York, gold for August delivery dropped USD 4.50 or 0.3 percent to settle at USD 1,383.10 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, both the precious metals, gold and silver, rebounded on stockists buying amid concerns over weakening rupee.

While gold surged by Rs 230 to Rs 28,480 per ten grams, silver gained Rs 250 to Rs 44,600 per kg on increased offtake.

Chennai

Standard gold prices slipped by Rs 25 to Rs 27,965 per ten grams as against its previous close of Rs 27,990.

Similarly, silver prices moved lower by Rs 120 to Rs 43,980 per kg from Rs 44,100.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity rebounded by Rs 230 each to Rs 28,480 and Rs 28,280 per ten grams, respectively. It had shed Rs 50 yesterday.

Sovereign held steady at Rs 24,400 per piece of eight gram.

Silver ready rose by Rs 250 to Rs 44,600 per kg and weekly-based delivery by Rs 85 to Rs 43,810 per kg. The white metal had lost Rs 250 in the previous session.

Silver coins also spurted 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 shed Rs 65 to end at Rs 27,840 per 10 gm from last Saturday's closing level of Rs 27,905.

Pure gold of 99.9 percent purity lost by Rs 65 to finish at Rs 27,985 per 10 gm from Rs 28,050.

Silver ready (.999 fineness) fell by Rs 185 to conclude at Rs 44,790 per kg compared to the weekend's closing level of Rs 44,975.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June rose by Rs 102 to settle at Rs 27,971 per ten grams against its previous close of Rs 27,869.

Similarly, silver for delivery in July traded up by Rs 214 at Rs 43,811 per kg compared to Rs 43,597 on Monday.

International markets

Spot gold last traded down 0.3 percent at USD 1,386.31 an ounce. The yellow metal closed up about half a percent for the week on Friday, helped by strong demand for coins and bars, a pullback in US stocks and rising tensions in the Middle East.

In New York, gold for August delivery dropped USD 4.50 or 0.3 percent to settle at USD 1,383.10 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, stood at 1,003.17 tonnes on Monday -- their lowest in more than four years.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27,985 (-65) / SILVER: Rs 44,790 (-185)

Delhi
GOLD: Rs 28,480 (+230) / SILVER: Rs 44,600 (+250)

Chennai
GOLD: Rs 27,965 (-25) / SILVER: Rs 43,980 (-120)

Kolkata
GOLD: Rs 27,965 (-235) / SILVER: Rs 43,980 (-270)

Bangalore
GOLD: Rs 28,077 28,275 (+198) / SILVER: Rs 44,700 (+500)

Hyderabad
GOLD: Rs 28,300 / SILVER: Rs 45,500

With Agency Inputs



First Published: Tuesday, June 18, 2013, 09:13


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