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

Last Updated: Thursday, August 01, 2013, 08:39
 
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Gold price today: Latest updates

Zee Media Bureau

Gold prices extended their yesterday's gains by Rs 187 to Rs 28,892 per ten grams in futures trade Weddnesday as market participants enlarged their positions, closely in tandem with a firming trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in August gained by Rs 187 to Rs 28,892 as against its previous close of Rs 28,641 per ten grams.

Similarly, silver for delivery in September increased by Rs 447 to Rs 42,110 from Rs 41,670 per kg yesterday.

'Not wise to invest in gold at current level'

Gold price in overseas markets, which normally set price trend on the domestic front, moved higher, heading for its best monthly gain since January 2012, as traders hope for a strong cue from the US Federal Reserve on when it will start scaling back stimulus measures.

The yellow metal has gained nearly 8 percent in July after the Fed assured financial markets it would only start phasing out its monetary stimulus when it was sure the US economy was strong enough to stand on its own.

The Fed will release a statement Wednesday afternoon after its two-day monthly policy meeting. Traders will be looking for clues as to when the US central bank will start tapering its USD 85 billion monthly bond purchases.

US GDP data and a private jobs report will also be released on Wednesday, which will help gauge the strength of the economy.

Spot gold last traded up USD 5.10 or 0.38 percent at USD 1,332.80 an ounce.

In New York, gold for December delivery fell USD 4.80 or 0.4 percent to settle at USD 1,324.80 an ounce on the Comex division of the NYMEX.

In Delhi spot market, gold regained the Rs 29,000 level after nearly four months by surging Rs 755 to Rs 29,200 per 10 grams on brisk buying by stockists and investors driven by firming global trend.

Silver also zoomed up by Rs 915 to Rs 42,260 per kg on increased offtake by industrial units and coin makers.

Mumbai

Standard gold of 99.5 percent purity strengthened by Rs 285 to end at Rs 28,500 per 10 gm from Monday's closing level of Rs 28,215.

Pure gold of 99.9 percent purity hardened by Rs 280 to finish at Rs 28,635 per 10 gm from Rs 28,355.

However, silver ready (.999 fineness) moved down by Rs 45 to conclude at Rs 41,930 per kg from Rs 41,975 yesterday.

Chennai

Standard gold prices moved higher by Rs 360 to Rs 28,780 per ten grams as against its previous close of Rs 28,420.

Silver prices zoomed by Rs 1,250 to Rs 42,220 per kg.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity spurted by Rs 755 each to Rs 29,200 and Rs 29,000 per 10 grams, respectively, a level last seen on April 12.

However, sovereigns held steady at Rs 24,400 per piece of eight grams in scattered deals.

In a similar fashion, silver ready jumped up by Rs 915 to Rs 42,260 per kg and weekly-based delivery by Rs 42,160 per kg respectively.

Silver coins also sky-rocketed by Rs 1000 to Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August gained by Rs 187 to Rs 28,892 as against its previous close of Rs 28,641 per ten grams.

Similarly, silver for delivery in September increased by Rs 447 to Rs 42,110 from Rs 41,670 per kg yesterday.

International markets

Spot gold last traded up USD 5.10 or 0.38 percent at USD 1,332.80 an ounce.

In New York, gold for December delivery fell USD 4.80 or 0.4 percent to settle at USD 1,324.80 an ounce on the Comex division of the NYMEX.

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: 28,635 (+280) / SILVER: Rs 41,930 (-45)

Delhi

GOLD: Rs 29,200 (+755) / SILVER: Rs 42,260 (+915)

Chennai

GOLD: Rs 28,780 (+360) / SILVER: Rs 42,220 (+1,250)

Kolkata

GOLD: Rs 28,860 / SILVER: Rs 41,100

Bangalore

GOLD: Rs 28,978/ SILVER: Rs 42,000

Hyderabad

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



First Published: Wednesday, July 31, 2013, 09:04


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