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

Last Updated: Friday, August 2, 2013, 11:16
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices fell by Rs 58 to Rs 28,149 per ten grams in futures trade Thursday as market participants trimmed their positions amid a weak trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in August eased by Rs 58 or 0.21 percent to Rs 28,149 per ten grams as against its previous close of Rs 28,182.

Similarly, silver for delivery in September declined by Rs 156 to Rs 41,364 per kg from Rs 41,517 yesterday.

'Not wise to invest in gold at current level'

Gold price in overseas markets, reversed early gains on Thursday as the dollar crept off six-week low on brighter US economic data and investors fretted about a pull-back in monetary stimulus despite dovish comments from the Federal Reserve.

The Fed gave no indication after a two-day policy meeting of an imminent end to its bond buying programme, which has supported the metal's safe haven appeal, but traders said policy makers would closely watch upcoming data.

US nonfarm payrolls data is due for release on Friday, and will follow Wednesday's gross domestic product and jobs data that painted a brighter picture of economic growth.

Spot gold last traded down 0.2 percent at USD 1,320.54 an ounce, after rising more than 7 percent in July to post its strongest month since January 2012.

In New York, gold for December delivery fell by USD 11.80 or 0.9 percent to settle at USD 1,313 an ounce on the Comex division of the NYMEX yesterday.

In Delhi spot market, gold prices slipped from nearly four-month high by losing Rs 475 to Rs 28,725 per ten grams on profit-selling by stockists at prevailing higher levels amid a weak global trend.

Silver also dropped by Rs 640 to Rs 41,620 per kg on lack of buying support from industrial units and coin makers.

Mumbai

Standard gold of 99.5 percent purity firmed up by Rs 25 to finish at Rs 28,525 per 10 gm from overnight closing level of Rs 28,500.

Pure gold of 99.9 percent purity gained Rs 20 to settle at Rs 28,655 per 10 gm from Rs 28,635.

Silver ready (.999 fineness) jumped by Rs 525 to conclude at Rs 42,455 per kg from Tuesday's closing level of Rs 41,930.

Chennai

Standard gold prices moved lower by Rs 375 to Rs 28,405 per ten grams as against its previous close of Rs 28,780 .

Similarly, silver prices declined by Rs 695 to Rs 41,525 per kg.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity slipped by Rs 475 each to Rs 28,725 and Rs 28,525 per ten grams, respectively. It had climbed to nearly four month high at Rs 29,200 yesterday.

Sovereign remained steady at Rs 24,400 per piece of eight gram in limited deals.

In line with a general weak trend, silver ready plunged by Rs 640 to Rs 41,620 per kg and weekly-based delivery by Rs 680 to Rs 41,480 per kg, respectively. The white metal had gained Rs 915 in the previous session.

Silver coins also tumbled by Rs 1,000 to 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 eased by Rs 58 or 0.21 percent to Rs 28,149 per ten grams as against its previous close of Rs 28,182.

Similarly, silver for delivery in September declined by Rs 156 to Rs 41,364 per kg from Rs 41,517 yesterday.

International markets

Spot gold last traded down 0.2 percent at USD 1,320.54 an ounce, after rising more than 7 percent in July to post its strongest month since January 2012.

In New York, gold for December delivery fell by USD 11.80 or 0.9 percent to settle at USD 1,313 an ounce on the Comex division of the NYMEX yesterday.

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: 28,655 (+20) / SILVER: Rs 42,455 (+525)

Delhi

GOLD: Rs 28,725 (-475) / SILVER: Rs 41,620 (-640)

Chennai

GOLD: Rs 28,405 (-375) / SILVER: Rs 42,220 41,525 (-695)

Kolkata

GOLD: Rs 29,245 / SILVER: Rs 42,300

Bangalore

GOLD: Rs 28,806/ SILVER: Rs 42,300

Hyderabad

GOLD: Rs 29,300 / SILVER: Rs 42,500



First Published: Thursday, August 1, 2013, 09:51


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