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

Last Updated: Wednesday, July 31, 2013, 09:10
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices failed to extend yesterday's momentum and moved lower by Rs 95 to Rs 28,182 per ten grams in futures trade early Tuesday as market participants trimmed their positions, closely in tandem with a weakening trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in August slipped by Rs 95 to Rs 28,182 per ten grams.

Similarly, silver for delivery in September decreased by Rs 92 to Rs 41,054 per kg.

'Not wise to invest in gold at current level'

Gold price in overseas markets, which normally set price trend on the domestic front, moved in tight range Tuesday, hovering near a five-week high, as traders shied away from taking big bets ahead of a key Federal Reserve meeting beginning later in the day.

The Fed starts its two-day policy meeting today and is expected to release a statement on Wednesday afternoon.

Markets are watching closely for clues on when the US central bank will start dialling back its USD 85 billion monthly bond purchases.

Spot gold last traded down USD 1.30 or 0.10 percent at USD 1,326.90 an ounce. It fell 0.5 percent on Monday as investors took profits after three weeks of gains.

In New York, gold for December delivery rose USD 6.90 or 0.5 percent to settle at USD 1,328.40 an ounce on the Comex division of the NYMEX. Gold for August delivery gained by USD 6.90, or 0.5 percent to USD 1,328.40 an ounce.

In Delhi spot market, gold prices extended gains for the third day by adding Rs 50 to Rs 28,475 per ten grams on sustained buying by stockists.

However, silver fell further by Rs 230 to Rs 41,000 per kg on reduced offtake by industrial units and coin makers.

Mumbai

Standard gold of 99.5 percent purity surged by Rs 270 to close at Rs 28,215 per 10 gm from last Saturday's closing level of Rs 27,945.

Pure gold of 99.9 percent purity advanced by a similar margin to conclude at Rs 28,355 per 10 gm from Rs 28,085.

Silver ready (.999 fineness) also shot up by Rs 420 to end at Rs 41,975 per kg from Rs 41,555 last weekend.

Chennai

Standard gold prices moved higher by Rs 120 to Rs 28,175 per ten grams as against its previous close of Rs 28,055.

However, silver prices decreased by Rs 105 to Rs 40,955 per kg from Rs 41,060.

Delhi

In the national capital, gold of 88.8 and 88.5 percent purity rose further by Rs 50 each to Rs 28,475 and Rs 28,275 per ten grams, respectively. It had gained Rs 605 in the previous two sessions. Sovereign held steady at Rs 24,400 per piece of eight gram.

On the other hand, silver ready fell further by Rs 230 to Rs 41,000 per kg and weekly-based delivery by Rs 219 to Rs 40,800 per kg. The white metal had lost Rs 120 in last trade.

Silver coins held steady at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August slipped by Rs 95 to Rs 28,182 per ten grams.

Similarly, silver for delivery in September decreased by Rs 92 to Rs 41,054 per kg.

International markets

Spot gold last traded down USD 1.30 or 0.10 percent at USD 1,326.90 an ounce. It fell 0.5 percent on Monday as investors took profits after three weeks of gains.

In New York, gold for December delivery rose USD 6.90 or 0.5 percent to settle at USD 1,328.40 an ounce on the Comex division of the NYMEX. Gold for August delivery gained by USD 6.90, or 0.5 percent to USD 1,328.40 an ounce.

Gold ETF

Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell by 0.26 percent to 927.36 tonnes on Thursday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 28,355 (+270) / SILVER: Rs 41,975 (+420)

Delhi

GOLD: Rs 28,475 (+50) / SILVER: Rs 41,000 (-230)

Chennai

GOLD: Rs 28,175 (+120) / SILVER: Rs 40,955 (-105)

Kolkata

GOLD: Rs 28,555 / SILVER: Rs 41,200

Bangalore

GOLD: Rs 28,755/ SILVER: Rs 41,900

Hyderabad

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




First Published: Tuesday, July 30, 2013, 09:36


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