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

Last Updated: Friday, July 05, 2013, 12:55
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices in futures trade trimmed their initial losses in afternoon trade Thursday as some of the market players enlarged their positions.

At the Multi Commodity Exchange (MCX), gold for delivery in August traded down by Rs 59 to Rs 26,237 per ten grams as against its previous close of Rs 26,296.

Similarly, silver for delivery in July declined by Rs 369 to Rs 40,620 per kg from Rs 40,989 on Wednesday.

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, edged higher for a second session today as worries over Europe and Egypt prompted safe-haven buying, but the mood remained cautious ahead of US jobs data that could determine the outlook for the Federal Reserve's stimulus measures.

US nonfarm payrolls data due on Friday could determine when the Federal Reserve would begin tapering its USD 85 billion monthly bond buying stimulus.

Investors were also on the sidelines due to the US Independence Day holiday today.

Spot gold rose 0.15 percent or USD 1.90 to USD 1,255.40 an ounce, after gaining almost 1 percent on Wednesday.

In New York, gold for August delivery rose USD 8.50 or 0.7 percent to settle at USD 1,251.90 an ounce on the Comex division of the NYMEX yesterday.

In Delhi spot market, gold prices rose by Rs 30 to Rs 26,830 per 10 grams, extending gains for the fifth straight session on increased buying by stockists and investors on the back of rising demand amid a firming global trend.

Silver followed suit and advanced by Rs 150 to Rs 41,400 per kg on sustained buying by industrial units and coin makers.

Chennai

Standard gold prices edged higher by Rs 15 to Rs 26,465 per ten grams as against its previous close of Rs 26,450.

Similarly, silver prices moved up by Rs 305 to Rs 41,045 per kg from Rs 40,740.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity remained in demand and added another Rs 30 each to Rs 26,830 and Rs 26,630 per 10 grams, respectively.

The yellow metal had gained Rs 1150 in the previous four sessions. However, sovereigns remained steady at Rs 24,000 per piece of eight grams.

In line with a general firm trend, silver recovered by Rs 150 to Rs 41,400 per kg and weekly-based delivery by Rs 235 to Rs 41,170 per kg. The white metal had shed Rs 50 yesterday.

Silver coins also spurted by Rs 1000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity strengthened by Rs 90 to end at Rs 26,320 per 10 gm from Tuesday's closing level of Rs 26,230.

Pure gold of 99.9 percent purity also hardened by a similar margin to finish at Rs 26,460 per 10 gm from Rs 26,370.

Silver ready (.999 fineness) climbed by Rs 635 to close at Rs 42,150 per kg as against Rs 41,515 previously.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August traded down by Rs 59 to Rs 26,237 per ten grams as against its previous close of Rs 26,296.

Similarly, silver for delivery in July declined by Rs 369 to Rs 40,620 per kg from Rs 40,989 on Wednesday.

International markets

Spot gold rose 0.15 percent or USD 1.90 to USD 1,255.40 an ounce, after gaining almost 1 percent on Wednesday.

In New York, gold for August delivery rose USD 8.50 or 0.7 percent to settle at USD 1,251.90 an ounce on the Comex division of the NYMEX yesterday.

Gold ETF

SPDR Gold Trust, the world's largest gold exchange-traded fund, reported an outflow of 0.37 percent to 964.69 tonnes on Tuesday, 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: 26,460 (+90) / SILVER: Rs 42,150 (+635)

Delhi

GOLD: Rs 26,830 (+30) / SILVER: Rs 41,400 (+150)

Chennai

GOLD: Rs 26,465 (+15) / SILVER: Rs 41,045 (+305)

Kolkata

GOLD: Rs 26,795(-55) / SILVER: Rs 41,100 (+100)

Bangalore

GOLD: Rs 26,748 / SILVER: Rs 42,100

Hyderabad

GOLD: Rs 26,800/ SILVER: Rs 42,500

With Agency Inputs




First Published: Thursday, July 04, 2013, 09:09


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