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

Last Updated: Tuesday, August 27, 2013, 09:19
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Retreating from their yesterday's closing level, gold prices dropped by Rs 149 to end the week at Rs 31,756 per 10 grams in futures trade Saturday as market participants trimmed some of their positions for booking profit.

At the Multi Commodity Exchange (MCX), gold for delivery in October eased by Rs 149 to settle at Rs 31,756 per ten grams as against its previous close of Rs 31,905 .

However, silver for delivery in September inched up by Rs 4 to Rs 53,473 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, gained nearly 2 percent, hitting its highest price in more than two months near USD 1,400 an ounce, as a big drop in US new home sales renewed hopes that the Federal Reserve will maintain its bond-buying economic stimulus.

For the week, gold gained 1.6 percent for its third consecutive weekly rise. It has climbed in six out of the past seven weeks since gold fell to a three-year low at USD 1,180 an ounce on June 28.

Spot gold last traded up USD 21.70 or 1.58 percent at 1,398.80 an ounce.

In New York, gold for December delivery rose by USD 25 or 1.8 percent to settle at USD 1,395.80 an ounce on the Comex division of the NYMEX. Prices for the most-active contract closed at their highest level since June 6.

In electronic trade, the most-active contract hit USD 1,400 per ounce level.

Meanwhile, gold prices rebounded by Rs 280 to Rs 31,700 per ten gram in Delhi bullion market on brisk buying by stockists and jewellers to meet the festive season demand amid a firm global trend.

Silver also spurted by Rs 1,730 to Rs 53,530 per kg on increased offtake by industrial units and coin makers.

Mumbai

Standard gold of 99.5 percent purity shot up by Rs 630 to conclude at Rs 31,790 per 10 gm from Friday's closing level of Rs 31,160.

Pure gold of 99.9 percent purity jumped by Rs 635 to end at Rs 31,945 per 10 gm from Rs 31,310.

Silver ready (.999 fineness) zoomed by a massive Rs 2,260 to finish at Rs 54,260 per kg from its previous closing level of Rs 52,000.

Chennai

Standard gold prices moved higher by Rs 580 to Rs 32,600 per ten grams as against its previous close of Rs 32,020.

Similarly, silver prices zoomed by Rs 1,035 to Rs 54,610 per kg.

Delhi

Gold of 99.9 and 99.5 percent purity rose by Rs 280 each to Rs 31,700 and Rs 31,500 per ten grams, respectively. It had lost Rs 330 yesterday. Sovereign remained steady at Rs 25,100 per piece of eight gram.

In a similar fashion, silver ready spurted by Rs 1,730 to Rs 53,530 per kg and weekly-based delivery by Rs 1,950 to Rs 53,600 per kg. The metal had lost Rs 100 yesterday.

Silver coins also surged by Rs 2,000 to Rs 90,000 for buying and Rs 91,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October eased by Rs 149 to settle at Rs 31,756 per ten grams as against its previous close of Rs 31,905 .

However, silver for delivery in September inched up by Rs 4 to Rs 53,473 per kg.

International markets

Spot gold last traded up USD 21.70 or 1.58 percent at 1,398.80 an ounce.

In New York, gold for December delivery rose by USD 25 or 1.8 percent to settle at USD 1,395.80 an ounce on the Comex division of the NYMEX. Prices for the most-active contract closed at their highest level since June 6.

In electronic trade, the most-active contract hit USD 1,400 per ounce level.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.07 percent to 913.52 tonnes on Wednesday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 31,945 (+635) / SILVER: Rs 54,260 (+2,260)

Delhi

GOLD: Rs 31,700 (+280) / SILVER: Rs 53,530 (+1,730)

Chennai

GOLD: Rs 32,600 (+580) / SILVER: Rs 54,610 (+1,035)

Kolkata

GOLD: Rs 53,600 / SILVER: Rs 32,910

Bangalore

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

Hyderabad

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



First Published: Saturday, August 24, 2013, 10:04


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