Gold price today: Latest updates
Quotes

Gold price today: Latest updates

Last Updated: Friday, June 21, 2013, 20:50
 
 Comment 13
 
Gold price today: Latest updates


Zee Media Bureau

Gold prices failed to retain early gains and extended their yesterday's downturn by falling Rs 88 to Rs 26,781 per ten grams in futures trade Friday.

The yellow metal price dropped by over Rs 1,100 in futures trade yesterday 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.

At the Multi Commodity Exchange (MCX), gold for delivery in August dropped by Rs 88 to Rs 26,781 per ten grams as against its previous close of Rs 26,887.

However, silver for delivery in July fell further by Rs 501 to Rs 40,804 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, recovered from a three-year trough today as lower prices attracted Chinese buyers and as Asian stocks fell, but the metal was still headed for its worst week in nearly two years after the Federal Reserve said it would curb stimulus.

Gold for immediate delivery fell over 5 percent on Thursday, along with other commodities and global stock markets, a day after Fed Chairman Ben Bernanke said the US economy was strong enough for the bank to wind down its bond-buying programme.

The yellow metal has fallen 23 percent this year and over 7 percent this week on fears over the withdrawal of stimulus.

Spot gold last traded up USD 15.60 or 1.22 percent at USD 1,294.40 an ounce. The metal earlier fell to USD 1,268.89 - its lowest since September 2010 and a level which would have marked the worst weekly decline in 30 years if it had ended the day there.

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, gold prices fell sharply by Rs 620 to trade at two-week low of Rs 27,380 per ten grams on persistent selling by stockists.

Silver too remained under pressure and plummeted by Rs 1,400 to Rs 41,700 per kg on lack of buying support from industrial units and coin makers.

Chennai

Standard gold prices declined further by Rs 300 to Rs 27,120 per ten grams as against its previous close of Rs 27,420.

Similarly, silver prices moved lower by Rs1,095 to Rs 41,285 per kg from Rs 42,380.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity suffered a setback of Rs 620 each to Rs 27,380 and Rs 27,180 per ten grams, respectively. The yellow metal had lost Rs 480 in last two sessions.

Sovereign held steady at Rs 24,200 per piece of eight gram.

In line with a overall weak trend, silver ready and weekly-based delivery plunged by Rs 1,400 each to Rs 41,700 and Rs 41,050 per kg, respectively. The white metal had tumbled by Rs 1,500 yesterday.

On the other hand, silver coins continued to be enquired at previous levels of Rs 78,000 for buying and Rs 80,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity shed Rs 265 to conclude at Rs 26,895 per 10 gm from Thursday's closing level of Rs 27,160.

Pure gold of 99.9 percent purity also lost by a similar margin to close at Rs 27,030 per 10 gm from Rs 27,295 yesterday.

Silver ready (.999 fineness) plunged by Rs 765 to finish at Rs 42,350 per kg over its previous closing level of Rs 43,115.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August dropped by Rs 88 to Rs 26,781 per ten grams as against its previous close of Rs 26,887.

However, silver for delivery in July fell further by Rs 501 to Rs 40,804 per kg.

International markets

Spot gold last traded up USD 15.60 or 1.22 percent at USD 1,294.40 an ounce. The metal earlier fell to USD 1,268.89 - its lowest since September 2010 and a level which would have marked the worst weekly decline in 30 years if it had ended the day there.

Gold ETF

Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.4 percent to 995.35 tonnes on Thursday - the 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: 26,895 (-265) / SILVER: Rs 42,350 (-765)

Delhi
GOLD: Rs 27,380 (-620) / SILVER: Rs 41,700 (-1,400)

Chennai
GOLD: Rs 27,420 27,120 (-300) / SILVER: Rs 41,285 (-1,095)

Kolkata
GOLD: Rs 27,500 (-100) / SILVER: Rs 41,600 (-650)

Bangalore
GOLD: Rs 27,349 (-343) / SILVER: Rs 42,200 (-800)

Hyderabad
GOLD: Rs 27,600 / SILVER: Rs 44,800

With Agency Inputs




First Published: Friday, June 21, 2013, 12:48


Comments


comments powered by Disqus
New York Auto Show: 2015 Subaru Outback
New York Auto Show: 2015 Subaru Outback
New York Auto Show: Dodge Hot Cars
New York Auto Show: Dodge Hot Cars
New York Auto Show 2014: Hot Cars
New York Auto Show 2014: Hot Cars
Top 10 Fastest-Emerging Cities
Top 10 Fastest-Emerging Cities
Top Businesswomen in India
Top Businesswomen in India

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved