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

Last Updated: Thursday, August 08, 2013, 11:52
 
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Gold price today: Latest updates

Zee Media Bureau

Gold prices eased further by Rs 151 to Rs 27,463 per ten grams in futures trade Wednesday as market participants continued to trim their positions closely in tandem with a weakening trend overseas.

At the Multi Commodity Exchange (MCX), gold benchmark delivery declined by Rs 151 to Rs 27,463 per ten grams.

Similarly, silver for delivery in September dropped by Rs 546 to Rs 40,987 per kg.

'Not wise to invest in gold at current level'

Gold price in overseas markets, extended losses into a third session today, falling to a three-week low after strong US trade data and comments by a Federal Reserve official stoked fears that the US central bank could start tapering its stimulus from next month.

Spot gold last traded down USD 1.70 or 0.13 percent at USD 1,281.90 an ounce after losing over 1.5 percent on Tuesday. The metal hit a trough of USD 1,275.36 today, its lowest since July 18.

In New York, gold for December delivery moved down by USD 19.90 or 1.5 percent to settle at USD 1,282.50 an ounce on the Comex division of the NYMEX yesterday.

In Delhi spot market, gold prices fell for the third straight day by losing Rs 280 to Rs 28,340 per ten grams on heavy selling by stockists driven by a weak global trend.

Silver also fell by Rs 695 to Rs 41,410 per kg on poor offtake by industrial units and coin makers.

Mumbai

Standard gold of 99.5 percent purity dropped by Rs 240 to close at Rs 28,065 per 10 gm from Tuesday's closing level of Rs 28,305.

Pure gold of 99.9 percent purity declined by Rs 220 to finish at Rs 28,220 per 10 gm from Rs 28,440.

Silver ready (.999 fineness) slumped by Rs 795 to end at Rs 41,720 per kg from Rs 42,515 yesterday.

Chennai

Standard gold prices moved lower by Rs 275 to Rs 27,995 per ten grams as against its previous close of Rs 28,270.

Similarly, silver prices tanked by Rs 1,400 to Rs 40,900 per kg.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity tumbled by Rs 280 each to Rs 28,340 and Rs 28,140 per ten grams respectively.It had lost Rs 180 in last two trade. Sovereign, however, held steady at Rs 24,400 per piece of eight gram in scattered deals.

In a similar fashion, silver ready fell by Rs 695 to Rs 41,410 per kg and weekly-based delivery by Rs 605 to Rs 41,280 per kg respectively.

On the other hand, silver coins maintained its steady trend 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 benchmark delivery declined by Rs 151 to Rs 27,463 per ten grams.

Similarly, silver for delivery in September dropped by Rs 546 to Rs 40,987 per kg.

International markets

Spot gold last traded down USD 1.70 or 0.13 percent at USD 1,281.90 an ounce after losing over 1.5 percent on Tuesday. The metal hit a trough of USD 1,275.36 today, its lowest since July 18.

In New York, gold for December delivery moved down by USD 19.90 or 1.5 percent to settle at USD 1,282.50 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 0.23 percent to 915.04 tonnes on Tuesday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 28,220 (-220) / SILVER: Rs 41,720 (-795)

Delhi

GOLD: Rs 28,340 (-280) / SILVER: Rs 41,410 (-695)

Chennai

GOLD: Rs 27,995 (-275) / SILVER: Rs 40,900 (-1,400)

Kolkata

GOLD: Rs 28,360 / SILVER: Rs 41,100

Bangalore

GOLD: Rs 28,395/ SILVER: Rs 41,700

Hyderabad

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




First Published: Wednesday, August 07, 2013, 12:53


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