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

Last Updated: Wednesday, August 07, 2013, 12:34
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices moved lower by Rs 186 to Rs 27,670 per ten grams in futures trade Tuesday as market participants trimmed their positions closely in tandem with a weakening trend overseas.

However, bullion prices were up in afternoon trade due to depreciation in rupee against the US dollar.

The rupee plunged to all-time intra-day low of 61.80 against the dollar today but erased all the losses to end with a gain of 11 paise at 60.77 after the central bank is believed to have intervened heavily in the forex market.

At the Multi Commodity Exchange (MCX), gold benchmark delivery declined by Rs 186 to Rs 27,670 per ten grams.

Similarly, silver for delivery in September slipped by Rs 136 to Rs 41,624 per kg.

'Not wise to invest in gold at current level'

Gold price in overseas markets, fell by over one percent today as data indicating economic growth on both sides of the Atlantic dented its appeal as a safe haven, while a steady dollar also weighed prices down.

The figures showed that growth in the US services sector rebounded from a three-year low, while British businesses boomed and activity at euro zone companies expanded, albeit modestly, in July for the first time in 18 months.

Spot gold last traded down USD 15.40 or 1.18 percent at USD 1,289.40 an ounce after moving in range of USD 1,283.30- 1,297.90.

In New York, gold for December delivery moved down by USD 8.10 or 0.6 percent to settle at USD 1,302.40 an ounce on the Comex division of the NYMEX yesterday.

In Delhi spot market, gold prices dropped further by Rs 130 to Rs 28,620 per ten grams on sustained selling by stockists in tandem with a weak global trend.

However, silver found scattered buying from industrial units and rose by Rs 20 to Rs 42,095 per kg.

Mumbai

Standard gold of 99.5 percent purity fell by Rs 165 to finish at Rs 28,305 per 10 gm from Monday's closing level of Rs 28,470.

Pure gold of 99.9 percent purity dipped by Rs 140 to end at Rs 28,440 per 10 gm from Rs 28,580.

However, silver ready (.999 fineness) climbed by Rs 115 to conclude at Rs 42,515 per kg from Rs 42,400 previously.

Chennai

Standard gold prices moved higher by Rs 50 to Rs 28,270 per ten grams as against its previous close of Rs 28,220 .

Similarly, silver prices rose by Rs 235 to Rs 42,300 per kg.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity fell further by Rs 130 each to Rs 28,620 and Rs 28,420 per ten grams respectively. It had shed Rs 50 yesterday. Sovereign remained stable at Rs 24,400 per piece of eight gram.

On the other hand, silver ready rose by Rs 20 to Rs 42,095 per kg while weekly-based delivery declined by Rs 40 to Rs 41,885 per kg on lack of speculators buying.

Silver coins fell by Rs 1000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces on resistance in demand at prevailing higher levels.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August rose by Rs 123 to Rs 28,600 per ten grams.

Similarly, silver for delivery in September increased by Rs 186 to Rs 41,946 per kg.

International markets

Spot gold last traded down USD 15.40 or 1.18 percent at USD 1,289.40 an ounce after moving in range of USD 1,283.30- 1,297.90.

In New York, gold for December delivery fell by USD 8.10 or 0.6 percent to settle at USD 1,302.40 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 0.2 percent to 917.14 tonnes on Monday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 28,440 (-140) / SILVER: Rs 42,515 (+115)

Delhi

GOLD: Rs 28,620 (-130) / SILVER: Rs 42,095 (+20)

Chennai

GOLD: Rs 28,270 (+50) / SILVER: Rs 42,300 (+235)

Kolkata

GOLD: Rs 28,640 / SILVER: Rs 42,000

Bangalore

GOLD: Rs 28,720/ SILVER: Rs 42,400

Hyderabad

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



First Published: Tuesday, August 06, 2013, 13:42


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