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

Last Updated: Wednesday, July 17, 2013, 15:37
 
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Gold price today: Latest updates

Zee Media Bureau

Recovering from their initial losses, gold prices moved higher by Rs 81 to Rs 26,519 per 10 grams in futures trade Tuesday as market players enlarged their positions in tandem with a firming global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in August recovered by Rs 81 to Rs 26,519 per ten grams.

Similarly, silver for delivery in September increased by Rs 49 to Rs 40,999 per kg.

'Not wise to invest in gold at current level'

Gold price in overseas markets, traded in narrow range today as investors awaited Federal Reserve Chairman Ben Bernanke's congressional testimony later this week for clues on when the US central bank would begin tapering its monetary stimulus.

The yellow metal gained 5 percent last week - its biggest weekly gain in nearly two years - on hopes that the stimulus would continue.

Spot gold last traded up USD 3 or 0.23 percent at USD 1,287.20 an ounce, after moving in range of USD 1,277.90-1,289.20.

In New York, gold for August delivery climbed USD 5.90 or 0.5 percent to settle at USD 1,283.50 an ounce on the Comex division of the NYMEX yesterday, following a loss of 0.5 percent on Friday and a gain of 5.4 percent last week.

In Delhi spot market, Both the precious metals, gold and silver, moved down, owing to slackened demand at prevailing higher levels amid a weak global trend.

While gold fell by Rs 260 to Rs 27,050 per 10 grams, silver lost Rs 630 at Rs 41,100 per kg on reduced offtake by jewellers and industrial units.

Chennai

Standard gold prices moved lower by Rs 150 to Rs 26,715 per ten grams as against its previous close of Rs 26,865.

Similarly, silver prices declined by Rs 470 to Rs 40,885 per kg from Rs 41,355.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity fell by Rs 260 each to Rs 27,050 and Rs 26,850 per 10 grams, respectively. Sovereigns followed suit and shed Rs 50 to Rs 24,150 per piece of eight grams.

Silver ready dropped by Rs 630 to Rs 41,100 per kg and weekly-based delivery by Rs 625 to Rs 41,100 per kg. Silver coins also plunged 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 eased by Rs 25 to finish at Rs 26,730 per 10 gm from last Saturday's closing level of Rs 26,755.

Pure gold of 99.9 percent purity also went down by a similar margin of Rs 25 to conclude at Rs 26,865 per 10 gm from Rs 26,890.

Silver ready (.999 fineness) dropped by Rs 130 to end at Rs 41,990 per kg as against Rs 42,120 previously.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August recovered by Rs 81 to Rs 26,519 per ten grams.

Similarly, silver for delivery in September increased by Rs 49 to Rs 40,999 per kg.

International markets

Spot gold last traded up USD 3 or 0.23 percent at USD 1,287.20 an ounce, after moving in range of USD 1,277.90-1,289.20.

In New York, gold for August delivery climbed USD 5.90 or 0.5 percent to settle at USD 1,283.50 an ounce on the Comex division of the NYMEX yesterday, following a loss of 0.5 percent on Friday and a gain of 5.4 percent last week.

Gold ETF

SPDR Gold Trust, the world's largest gold exchange-traded fund, logged its biggest weekly loss of 2.6 percent since the end of April.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 26,865 (-25) / SILVER: Rs 41,990 (-130)

Delhi

GOLD: Rs 27,050 (-260) / SILVER: Rs 41,100 (-630)

Chennai

GOLD: Rs 26,715 (-150) / SILVER: Rs 40,885 ( -470)

Kolkata

GOLD: Rs 26,950 / SILVER: Rs 40,900

Bangalore

GOLD: Rs 27,177/ SILVER: Rs 41,900

Hyderabad

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

With Agency Inputs




First Published: Tuesday, July 16, 2013, 11:39


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