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

Last Updated: Thursday, September 05, 2013, 11:55
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold prices dipped below Rs 33,000 level by plunging Rs 1,835 to Rs 32,604 per ten grams in futures trade Wednesday as speculators trimmed their positions in line with weak global trend.

Appreciation in rupee against the US dollar in afternoon trade also weighed on bullion prices as it makes imports cheaper.

The rupee ended up 56 paise or 0.83 percent at 67.07 Vs dollar.

At the Multi Commodity Exchange (MCX), gold for delivery in October dropped by Rs 1,835 to settle at Rs 32,604 per ten grams as against its previous close of Rs 34,439 after moving in range of Rs 32,410-34,549.

The yellow metal had hit an intra-day high of Rs 35,074 on last Wednesday.

Similarly, silver benchmark delivery weakened by Rs 4,167 to Rs 53,141 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, fell 1.5 percent, slipping below USD 1,400 an ounce as strong US auto sales boosted economic hopes and fears of a Western-led military strike against Syria lost some of their urgency.

Spot gold last traded down USD 1.5 percent at USD 1,390.61 an ounce .

In New York, gold for December delivery dropped by USD 22 to settle at USD 1,390 an ounce on the Comex division of the NYMEX.

Prior to Wednesday's selloff, gold had gained 11 percent since Aug 7 on uncertainty over when the Fed will start to cut its USD 85 billion monthly bond-buying stimulus program.

Meanwhile, gold prices gained Rs 660 to Rs 32,200 per ten grams in Delhi bullion market today, mainly on sustained buying by stockists driven by firming global trend.

Silver also rose for the third day by adding Rs 70 to Rs 55,500 per kg on increased offtake by industrial units and coin makers.

Mumbai

Standard gold of 99.5 percent purity dropped by Rs 570 to close at Rs 31,940 per 10 gm from Tuesday's closing level of Rs 32,510.

Pure gold of 99.9 percent purity dipped by Rs 565 to end at Rs 32,100 from Rs 32,665.

Silver ready (.999 fineness) tumbled by a massive Rs 2,040 to finish at Rs 56,315 per kg from Rs 58,355 previously.

Delhi

Gold of 99.9 and 99.5 percent purity surged by Rs 660 each to Rs 32,200 and Rs 32,000 per ten grams, respectively. It had gained Rs 440 yesterday. Sovereign advanced by Rs 200 to Rs 25,300 per piece of eight gram.

In line with a general firm trend, silver ready added Rs 70 to Rs 55,500 per kg while weekly-based delivery declined by Rs 230 to Rs 57,000 per kg on lack of speculators' support. The white metal had gained Rs 1,500 in last two trades.

Silver coins spurted 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 dropped by Rs 1,835 to settle at Rs 32,604 per ten grams as against its previous close of Rs 34,439. The yellow metal had hit an intra-day high of Rs 35,074 on last Wednesday.

Similarly, silver benchmark delivery weakened by Rs 4,167 to Rs 53,141 per kg.

International markets

Spot gold last traded down USD 1.5 percent at USD 1,390.61 an ounce .

In New York, gold for December delivery dropped by USD 22 to settle at USD 1,390 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 fell 0.20 percent to 919.23 tonnes on Tuesday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 32,100 (-565)/ SILVER: Rs 56,315 (-2,040)

Delhi

GOLD: Rs 32,200 (+660) / SILVER: Rs 55,500 (+70)

Chennai

GOLD: Rs 30,175/ SILVER: Rs 57,570

Kolkata

GOLD: Rs 33,660 / SILVER: Rs 55,150

Bangalore

GOLD: Rs 34,147/ SILVER: Rs 55,300

Hyderabad

GOLD: Rs 31,000 / SILVER: Rs 55,700




First Published: Wednesday, September 04, 2013, 10:48


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