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

Last Updated: Wednesday, July 03, 2013, 08:27
 
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Gold price today: Latest updates

Zee Media Bureau

Gold prices in futures trade failed to hold Rs 26,000-level in second half of trade Tuesday by slipping Rs 54 to Rs 25,927 per ten grams as market players booked profits in tandem with a weakening global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in August traded down by Rs 54 at Rs 25,927 per ten grams.

Similarly, silver for delivery in July declined by Rs 67 to Rs 40,000 per kg.

According to Shiv Shrivastava, MD & CEO, IGuru Research, domestic prices of yellow metal may see more downside in the medium term as compared to overseas market as sustained weakness in rupee will prompt RBI to take necessary steps, which may lastly give some boost to Indian currency against US dollar.

'Not wise to invest in gold at current level'

Gold price in overseas markets, which normally set price trend on the domestic front, inched down today, snapping its two straight session gains as the dollar strengthened and investors looked for further indications of an end to US monetary easing soon.

Gold prices tumbled more than 23% in the second quarter, the worst quarterly loss on record.

Spot gold last traded down USD 3.30 or 0.26 percent at USD 1,250.30 an ounce.

In New York, gold for August delivery climbed USD 32 or 2.6 percent to settle at USD 1,255.70 an ounce on the Comex division of the NYMEX yesterday.

In Delhi spot market, gold and silver prices gained for the third consecutive day on sustained buying by stockists, amid a firming global trend.

While gold advanced by Rs 225 to Rs 26,700 per ten grams, silver gained Rs 100 to Rs 41,300 per kg on increased offtake by industrial units and coin makers.

Chennai

Standard gold prices rose by Rs 445 to Rs 26,495 per ten grams as against its previous close of Rs 26,050.

Similarly, silver prices moved up by Rs 300 to Rs 40,845 per kg from Rs 40,545.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity advanced by Rs 225 each to Rs 26,700 and Rs 26,500 per ten grams, respectively. It had gained Rs 825 in the previous two sessions. Sovereign also shot up by Rs 200 to Rs 24,000 per piece of eight gram.

In a similar fashion, silver ready gained Rs 100 to Rs 41,300 per kg while weekly-based delivery shed Rs 25 at Rs 40,875 per kg. The white metal had gained Rs 2,190 in last two sessions.

Silver coins spurted by Rs 1,000 to Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity spiked by Rs 430 to finish at Rs 26,230 per 10 gm from Monday's closing level of Rs 25,800.

Pure gold of 99.9 percent purity spurted by Rs 440 to conclude at Rs 26,370 per 10 gm from Rs 25,930.

Silver ready (.999 fineness) rose by Rs 390 to end at Rs 41,515 per kg compared to Rs 41,125 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August traded down by Rs 54 at Rs 25,927 per ten grams.

Similarly, silver for delivery in July declined by Rs 67 to Rs 40,000 per kg.

International markets

Spot gold last traded down USD 3.30 or 0.26 percent at USD 1,250.30 an ounce.

In New York, gold for August delivery climbed USD 32 or 2.6 percent to settle at USD 1,255.70 an ounce on the Comex division of the NYMEX yesterday.

Gold ETF

SPDR Gold Trust, the world's largest gold exchange-traded fund, said its holdings fell 0.12 percent to 968.30 tonnes on Monday - its lowest since February 2009.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 26,370 (+440) / SILVER: Rs 41,515 (+390)

Delhi

GOLD: Rs 26,700 (+225) / SILVER: Rs 41,300 (+100)

Chennai

GOLD: Rs 26,495 ( +445) / SILVER: Rs 40,845 (+300)

Kolkata

GOLD: Rs 26,850 (+370) / SILVER: Rs 41,000 (+100)

Bangalore

GOLD: Rs 26,654 (+394) / SILVER: Rs 41,600 (+400)

Hyderabad

GOLD:----/ SILVER: ----

With Agency Inputs



First Published: Tuesday, July 02, 2013, 12:55


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