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

Last Updated: Friday, August 30, 2013, 08:31
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold prices set new record high of Rs 33,824 per 10 grams Tuesday on heavy buying as rupee plunged to its new record low of 66.30 against the US dollar.

Market participants also enlarged their positions in line with a firming trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in October zoomed by Rs 1,839 to settle at Rs 33,715 per ten grams as against its previous close of Rs 31,876. In intra-day trade benchmark delivery rose as much to Rs 33,824, up Rs 1948 per 10 grams from its previous close.

Similarly, silver for delivery in September spurted by Rs 3,503 to close at Rs 57,290 per kg after hitting an intra-day high of Rs 57,645 .

Gold price in overseas markets, which normally set price trend on the domestic front, rose to
its highest price in more than three months, as investors sought safe havens from rising geopolitical tension, with an attack by Western powers on Syria seen imminent.

As per analysts, the possibility of US military action against Syria is driving demand for safe-haven assets including gold.

Spot gold last traded up 0.9 percent at USD 1,417.10 per ounce. having earlier hit USD 1,423.41, which marked the highest since May 15.

In New York, gold for December delivery rose by USD 27.10 or 2 percent to settle at USD 1,420.20 an ounce on the Comex division of the NYMEX.

Meanwhile, gold surged by Rs 500 to Rs 32,000 per ten gram in Delhi bullion market, a level last seen on December 3 last year, as the rupee hitting a record low against the US currency made the dollar-priced metal costlier.

Silver also rose for the third day by jumping Rs 800 to Rs 54,800 per kg on increased offtake by jewellers and industrial users.

Mumbai

Standard gold of 99.5 percent purity, spurted by Rs 820 to end at Rs 32,585 per 10 gm from Monday's closing level of Rs 31,765.

Pure gold of 99.9 percent purity shot-up by Rs 810 to conclude at Rs 32,730 per 10 gm from Rs 31,920.

Silver ready (.999 fineness) jumped by a hefty Rs 1,940 to finish at Rs 56,670 per kg as compared to Rs 54,730 yesterday.

Delhi

Gold of 99.9 and 99.5 percent purity fell by Rs 200 each to Rs 31,500 and Rs 31,300 per ten grams, respectively. It had gained Rs 280 in Saturday's trade.

Sovereign remained stable at Rs 25,100 per piece of eight gram in restricted buying.

On the other hand, silver ready rose further by Rs 470 to Rs 54,000 per kg and weekly-based delivery by Rs 150 to Rs 53,750 per kg, respectively. The white metal had surged by Rs 1,730 in the previous session.

However, silver coins lacked necessary buying support and plunged by Rs 1,000 to Rs 89,000 for buying and Rs 90,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October zoomed by Rs 1,839 to settle at Rs 33,715 per ten grams as against its previous close of Rs 31,876. In intra-day trade benchmark delivery rose as much to Rs 33,824, up Rs 1948 per 10 grams from its previous close.

Similarly, silver for delivery in September spurted by Rs 3,503 to close at Rs 57,290 per kg after hitting an intra-day high of Rs 57,645 .

International markets

Spot gold last traded up 0.9 percent at USD 1,417.10 per ounce. having earlier hit USD 1,423.41, which marked the highest since May 15.

In New York, gold for December delivery rose by USD 27.10 or 2 percent to settle at USD 1,420.20 an ounce on the Comex division of the NYMEX.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.72 percent, or 6.61 tonnes, to 920.13 tonnes on Friday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 32,730 (+810) / SILVER: Rs 56,670 (+1,940)

Delhi

GOLD: Rs 32,000 (+500) / SILVER: Rs 54,800 (+800)

Chennai

GOLD: Rs -----/ SILVER: Rs 55,630 57,610 (+1,980)

Kolkata

GOLD: Rs 33,700 / SILVER: Rs 55,300

Bangalore

GOLD: Rs 33,684/ SILVER: Rs 57,200

Hyderabad

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




First Published: Tuesday, August 27, 2013, 09:31


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