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 edged lower by Rs 24 to Rs 27,943 per ten grams in futures trade Wednesday as market players offloaded some of their exposures, moving in tandem with a weak global trend.

However, weakening of rupee against US dollar capped downside.

At the Multi Commodity Exchange (MCX), gold for delivery in June slipped by Rs 24 to Rs 27,943 per ten grams against its previous close of Rs 27,967.

Similarly, silver for delivery in July traded down by Rs 197 at Rs 43,844 per kg compared to Rs 44,041 on Tuesday.

Gold price in overseas markets, which normally set price trend on the domestic front, continued to edge lower today as investors remained cautious, awaiting the end of a Federal Reserve policy meeting for clues on the outlook for US economic stimulus.

Spot gold last traded down USD 2.70 or 0.20 percent at USD 1,366.80 an ounce.

The yellow metal fell more than 1 percent to its lowest level in nearly four weeks in the previous session as US equities rallied and as bullion buyers took to the sidelines before the conclusion of a two-day Fed meeting that began on Tuesday.

A policy statement from the central bank will be released on Wednesday and investors are awaiting guidance on whether the Fed plans to scale back its USD 85 billion monthly bond purchases.

In New York, gold for August delivery dropped USD 16.20 or 1.2 percent to settle at USD 1,366.90 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 fell by Rs 80 to Rs 28,400 per ten grams here Wednesday due to slackened demand amid a weak global trend.

On the other hand, silver ready ruled flat at Rs 44,600 per kg,

Chennai

Standard gold prices rose by Rs 250 to Rs 28,215 per ten grams as against its previous close of Rs 27,965.

Similarly, silver prices moved higher by Rs 285 to Rs 44,265 per kg from Rs 43,980.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity fell by Rs 80 each to Rs 28,400 and Rs 28,200 per ten grams, respectively.

On the other hand, silver ready ruled flat at Rs 44,600 per kg, while weekly-based delivery shed Rs 80 to Rs 43,780 per kg on lack of speculators' buying support. Meanwhile, silver coins continued to be asked around previous level of Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity climbed by Rs 185 to finish at Rs 28,025 per 10gm from Monday's closing level of Rs 27,840.

Pure gold of 99.9 percent purity also surged by a similar margin of Rs 185 to close at Rs 28,170 per 10 gm from Rs 27,985.

Silver ready (.999 fineness) spurted by Rs 210 to conclude at Rs 45,000 per kg as against Rs 44,790 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June slipped by Rs 24 to Rs 27,943 per ten grams against its previous close of Rs 27,967 .

Similarly, silver for delivery in July traded down by Rs 197 at Rs 43,844 per kg compared to Rs 44,041 on Tuesday.

International markets

Spot gold last traded down USD 2.70 or 0.20 percent at USD 1,366.80 an ounce. In New York, gold for August delivery dropped USD 16.20 or 1.2 percent to settle at USD 1,366.90 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 0.2 percent to 1,001.67 tonnes on Tuesday - 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 28,170 (+185) / SILVER: Rs 45,000 (+210)

Delhi
GOLD: Rs 28,400 (-80) / SILVER: Rs 44,600 (Unchanged)

Chennai
GOLD: Rs 28,215 (+250) / SILVER: Rs 44,265 (+285)

Kolkata
GOLD: Rs 28,485 (+335) / SILVER: Rs 44,350 (+300)

Bangalore
GOLD: Rs 28,420 / SILVER: Rs 44,800 (+100)

Hyderabad
GOLD: Rs 28,000 (-300) / SILVER: Rs 45,500 ( Unchanged)

With Agency Inputs




First Published: Wednesday, June 19, 2013, 09:08


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