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

Last Updated: Friday, June 21, 2013, 12:13
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices tanked by Rs 866 to Rs 27,145 per ten grams in futures trade Thursday as market players offloaded their exposures, moving in tandem with a weak global trend as the US Federal Reserve Chairman Ben Bernanke said it could start tapering off its massive stimulus programme later this year, mainly weighed on gold prices at futures trade.

At the Multi Commodity Exchange (MCX), gold for delivery in June plunged by Rs 866 to Rs 27,145 per ten grams.

Similarly, silver for delivery in July nosedived by Rs 2,069 to Rs 41,885 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, fell for a fourth straight session today to its lowest since September 30, 2010 after the US Federal Reserve signalled it would slow the pace of bond purchases later this year.

Bernanke told a news conference after a two-day Fed meeting that the central bank expects to slow the pace of its bond purchases later this year and bring them to a halt around mid-2014.

Spot gold last traded down USD 52.10 or 3.86 percent at USD 1,300.20 an ounce after hitting an intra-day low of USD 1,285.

Gold prices had earlier sank to around USD 1,321 on April 16, in a sell-off that surprised ardent gold investors and bulls.

In Delhi spot market, both the precious metals, gold and silver tumbled on heavy sell-off by stockists, triggered by a weak trend in overseas markets.

While gold fell by Rs 400 to Rs 28,000 per ten grams, silver plunged by Rs 1,500 to Rs 43,100 per kg on poor offtake.

Chennai

Standard gold prices declined by Rs 125 to Rs 28,090 per ten grams as against its previous close of Rs 28,215.

Similarly, silver prices moved lower by Rs 230 to Rs 44,035 per kg from Rs 44,265.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity plummeted by Rs 400 each to Rs 28,000 and Rs 27,800 per ten grams, respectively.

The yellow metal had lost Rs 80 yesterday. Sovereign followed suit and declined by Rs 200 to Rs 24,200 per piece of eight gram.

In a similar fashion, silver ready dropped by a whopping Rs 1,500 to Rs 43,100 per kg and weekly-based delivery by Rs 1,280 to Rs 42,450 per kg. Silver coins also nosedived by Rs 2,000 to Rs 78,000 for buying and Rs 79,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity shed Rs 100 to conclude at Rs 27,925 per 10 gm from Tuesday's closing level of Rs 28,025.

Pure gold of 99.9 percent purity also fell by a similar margin to end at Rs 28,070 per 10 gm from Rs 28,170.

Silver ready (.999 fineness), however edged higher by Rs 50 to finish at Rs 45,050 per kg compared to Rs 45,000 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June plunged by Rs 866 to Rs 27,145 per ten grams.

Similarly, silver for delivery in July nosedived by Rs 2,069 to Rs 41,885 per kg.

International markets

Spot gold last traded down USD 52.10 or 3.86 percent at USD 1,300.20 an ounce after hitting an intra-day low of USD 1,285.

Gold ETF

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell below 1,000 tonnes on Wednesday for the first time in 4 years.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 28,070 (-100) / SILVER: Rs 45,050 (+50)

Delhi
GOLD: Rs 28,000 (-400) / SILVER: Rs 43,100 (-1,500)

Chennai
GOLD: Rs 28,090(-125) / SILVER: Rs 44,035(-230)

Kolkata
GOLD: Rs 28,335 (-150) / SILVER: Rs 44,150 (-200)

Bangalore
GOLD: Rs 28,395 (-25) / SILVER: Rs 44,700 (-100)

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

With Agency Inputs




First Published: Thursday, June 20, 2013, 10:54


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