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

Last Updated: Friday, July 12, 2013, 13:31
 
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Gold price today: Latest updates

Zee Media Bureau

Gold futures zoomed by Rs 708 to Rs 26,811 per ten grams in afternoon trade Thursday as market players enlarged their exposures, largely in tandem with a firming trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in August spurted by Rs 708 to Rs 26,811 per ten grams as against its previous close of Rs 26,103.

Similarly, silver for delivery in September rallied by Rs 1,686 to Rs 41,860 per kg from Rs 40,168 on Tuesday.

'Not wise to invest in gold at current level'

Gold price in overseas markets, rose to its highest in more than two weeks today after Federal Reserve Chairman Ben Bernanke said the US central bank will continue to pursue an accommodative monetary policy for now to support the economy.

Bernanke on Wednesday said a highly accommodative policy was needed for the foreseeable future as inflation remains low and the employment rate may be overstating the health of the labour market.

Minutes from the June Fed policy meeting also showed that about half of the bank's policymakers felt the stimulus programme should be brought to a halt by year end, but many wanted reassurance the US jobs recovery was on solid ground before any policy retreat.

Spot gold last traded up 2.49 percent or USD 31.40 at USD 1,295.30 an ounce, extending gains into a fourth day. It earlier climbed to USD 1,300 - its highest since June 24.

In New York, gold for August delivery rose USD 1.5 or 0.1 percent to settle at USD 1,247.40 an ounce on the Comex division of the NYMEX yesterday.

Just after the release of the minutes, August gold rose further, to USD 1,261 an ounce in electronic trading.

In Delhi spot market, gold prices zoomed to three weeks high by surging Rs 610 to Rs 27,325 per 10 grams on brisk buying by stockists and investors driven by strong cues from global markets.

Chennai

Standard gold prices inched up by Rs 20 to Rs 26,435 per ten grams as against its previous close of Rs 26,415.

However, silver prices declined by Rs 210 to Rs 40,180 per kg from Rs 40,390.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity shot up up by Rs 610 each to Rs 27,325 and Rs 27,125 per 10 grams, respectively.

Sovereigns shot up by Rs 200 to Rs 24,200 per piece of eight grams.

Silver ready and weekly based delivery spurted by Rs 1,400 each to Rs 41,750 and Rs 41,700 per kg, respectively. Silver coins too spurted by Rs 2000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity fell by Rs 80 to close at Rs 26,210 per 10 gm from Tuesday's closing level of Rs 26,290.

Pure gold of 99.9 percent purity also dropped by Rs 85 to end at Rs 26,345 per 10 gm from Rs 26,430.

Silver ready (.999 fineness) went down by Rs 40 to conclude at Rs 41,010 per kg from Rs 41,050 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August spurted by Rs 708 to Rs 26,811 per ten grams as against its previous close of Rs 26,103.

Similarly, silver for delivery in September rallied by Rs 1,686 to Rs 41,860 per kg from Rs 40,168 on Tuesday.

International markets

Spot gold last traded up 2.49 percent or USD 31.40 at USD 1,295.30 an ounce, extending gains into a fourth day. It earlier climbed to USD 1,300 - its highest since June 24.

In New York, gold for August delivery rose USD 1.5 or 0.1 percent to settle at USD 1,247.40 an ounce on the Comex division of the NYMEX yesterday.

Just after the release of the minutes, August gold rose further, to USD 1,261 an ounce in electronic trading.

Gold ETF

SPDR Gold Trust, the world's largest gold exchange-traded fund, fell 0.07 percent to 939.08 tonnes on Wednesday, 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: 26,345 (-85) / SILVER: Rs 41,010 (-40)

Delhi

GOLD: Rs 27,325 (+610) / SILVER: Rs 41,750 (+1,400)

Chennai

GOLD: Rs 26,415 26,435 (+20) / SILVER: Rs 40,180 (-210)

Kolkata

GOLD: Rs 26,670 (-85)/ SILVER: Rs 40,100 (-200)

Bangalore

GOLD: Rs 26,628 (-60)/ SILVER: Rs 40,800 (-100)

Hyderabad

GOLD: Rs 26,750 / SILVER: Rs 41,000

With Agency Inputs



First Published: Thursday, July 11, 2013, 09:08


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