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

Last Updated: Saturday, July 6, 2013, 16:51
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices settled higher by Rs 196 to Rs 26,034 per ten grams in futures trade Saturday as market players took fresh entries at current levels.

At the Multi Commodity Exchange (MCX), gold for delivery in August traded up by Rs 196 to close at Rs 26,034 per ten grams as against its previous close of Rs 25,838.

Similarly, silver for delivery in July rose by Rs 241 to Rs 40,298 per kg.

'Not wise to invest in gold at current level'

Gold price in overseas markets, dropped over 3 percent on Friday after positive US jobs data sent the dollar rallying and rekindled worries the Federal Reserve could be tempted to scale back its monetary stimulus later this year.

The US non-farm payrolls report showed employers added 195,000 new jobs to their payrolls last month, while the unemployment rate held steady at 7.6 percent as more people entered the workforce.

The jobs gain in June was better than the average monthly increase of 182,000 over the last year, and well above the analyst consensus estimate of 166,000 jobs.

The better-than-expected job numbers are among data that could steer the Fed toward a shorter timetable for its USD 85 billion in monthly bond purchases, analysts said.

Spot gold last traded down USD 28.70 or 2.29 percent at USD 1,224.80 an ounce, after moving in range of USD 1,207.50-1,246.60.

In New York, gold for August delivery dropped USD 39.20 or 3.1 percent to settle at USD 1,212.70 an ounce on the Comex division of the NYMEX.That was the lowest settlement since June 27.

In Delhi spot market, gold prices fell by Rs 95 to Rs 26,625 per 10 grams on sluggish demand at prevailing higher levels amid a weak global trend.

Silver also dropped by Rs 170 to Rs 40,430 per kg on reduced offtake by industrial units and coin makers.

Chennai

Standard gold prices edged up by Rs 40 to Rs 26,285 per ten grams as against its previous close of Rs 26,245.

However, silver prices moved down by Rs 205 to Rs 40,015 per kg from Rs 40,220.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity fell by Rs 95 to Rs 26,625 and Rs 26,425 per 10 grams, respectively. Sovereigns continued to be asked around previous level of Rs 24,000 per piece of eight grams in scattered deals.

In line with a general weak trend, silver ready dropped by Rs 170 to Rs 40,430 per kg.

Mumbai

Standard gold of 99.5 percent purity fell by Rs 40 to finish at Rs 26,150 per 10 gm from Friday's closing level of Rs 26,190.

Pure gold of 99.9 percent purity moved down by Rs 45 to close at Rs 26,285 per 10 gm from Rs 26,330.

Silver ready (.999 fineness) dropped by Rs 385 to end at Rs 41,140 per kg from Rs 41,525 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August traded up by Rs 196 to close at Rs 26,034 per ten grams as against its previous close of Rs 25,838.

Similarly, silver for delivery in July rose by Rs 241 to Rs 40,298 per kg.

International markets

Spot gold last traded down USD 28.70 or 2.29 percent at USD 1,224.80 an ounce, after moving in range of USD 1,207.50-1,246.60.

In New York, gold for August delivery dropped USD 39.20 or 3.1 percent to settle at USD 1,212.70 an ounce on the Comex division of the NYMEX.That was the lowest settlement since June 27.

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: 26,285 (-45) / SILVER: Rs 41,140 (-385)

Delhi

GOLD: Rs 26,625 (-95) / SILVER: Rs 40,430 (-170)

Chennai

GOLD: Rs 26,285 (+40) / SILVER: Rs 40,015(-205)

Kolkata

GOLD: Rs 26,830 26,615 (-215) / SILVER: Rs 40,400 (-600)

Bangalore

GOLD: Rs 26,577 (-93) / SILVER: Rs 41,100 (-700)

Hyderabad

GOLD: Rs 26,600 / SILVER: Rs 41,600

With Agency Inputs



First Published: Saturday, July 6, 2013, 09:16


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