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

Last Updated: Thursday, July 04, 2013, 08:41
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices retraced Rs 26,000-level by adding Rs 221 to Rs 26,128 per ten grams in futures trade Wednesday as market players enlarged their positions in tandem with a firming global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in August traded up by Rs 221 to Rs 26,128 per ten grams.

Similarly, silver for delivery in July rose by Rs 517 to Rs 40,400 per kg.

According to Shiv Shrivastava, MD & CEO, IGuru Research, next target for the yellow metal will be Rs 26,500 but after reaching that level, prices may show correction.

'Not wise to invest in gold at current level'

Gold price in overseas markets, which normally set price trend on the domestic front, edged higher in thin trade today following comments by two US Federal Reserve officials that the central bank's economic stimulus could continue for some time.

Two senior Fed official said on Tuesday that the bank's monetary policy to support the economy will likely be warranted for some time to come.

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

Spot gold last traded up USD 2 or 0.16 percent at USD 1,246.70 an ounce.

In New York, gold for August delivery fell USD 12.30 or 1 percent to settle at USD 1,243.40 an ounce on the Comex division of the NYMEX.

In Delhi spot market, gold prices shot up by another Rs 100 to Rs 26,800 per 10 grams, rising for the fourth straight session on sustained buying by stockists amid a firming global trend.

However, silver met with some resistance at prevailing high levels and declined by Rs 50 to Rs 41,250 per kg, after gaining Rs 2,290 in the previous three sessions.

Chennai

Standard gold prices slipped by Rs 45 to Rs 26,450 per ten grams as against its previous close of Rs 26,495 .

Similarly, silver prices moved down by Rs 105 to Rs 40,740 per kg from Rs 40,845.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity added Rs 100 each to Rs 26,800 and Rs 26,700 per 10 grams, respectively. It had gained Rs 1050 in last three days. Sovereigns held steady at Rs 24,000 per piece of eight grams in restricted buying.

On the other hand, silver ready met with resistance and shed Rs 50 to Rs 41,250 per kg while weekly-based delivery rose by Rs 60 to Rs 40,935 per kg on scattered speculators buying.

Silver coins continued to be asked around previous levels of 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 up by Rs 221 to Rs 26,128 per ten grams.

Similarly, silver for delivery in July rose by Rs 517 to Rs 40,400 per kg.

International markets

Spot gold last traded up USD 2 or 0.16 percent at USD 1,246.70 an ounce.

In New York, gold for August delivery fell USD 12.30 or 1 percent to settle at USD 1,243.40 an ounce on the Comex division of the NYMEX.

Gold ETF

SPDR Gold Trust, the world's largest gold exchange-traded fund, reported an outflow of 1.2 tonnes to 968.30 tonnes on Monday, its lowest since February 2009. Its holdings have dropped 382.5 tonnes since the start of the year.

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 26,800 (+100) / SILVER: Rs 41,250 (-50)

Chennai

GOLD: Rs 26,450 (-45) / SILVER: Rs 40,740 (-105)

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: Wednesday, July 03, 2013, 08:28


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