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

Last Updated: Friday, September 06, 2013, 14:13
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Recovering from their early losses, gold prices moved higher by Rs 160 to Rs 32,764 per ten grams in futures trade Thursday as speculators enlarged their positions, moving in tandem with a firming trend overseas.

Appreciation in rupee against the US dollar, however, capped the upside as it makes imports cheaper.

At the Multi Commodity Exchange (MCX), gold for delivery in October rose by Rs 160 to Rs 32,764 per ten grams as against its previous close of Rs 32,604.

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

Similarly, silver benchmark delivery gained by Rs 334 to Rs 53,475 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, edged higher today as investors looked for bargains after a sharp drop in the previous session, but it stayed below the key level of USD 1,400 an ounce as upbeat US data dented its appeal as an alternative investment.

Spot gold last traded up USD 3.90 or 0.28 percent at USD 1,396.70 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 yesterday.

Prior to Wednesday's sell off, 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 suffered the steepest fall in a week Thursday falling by Rs 1,250 to Rs 30,950 per ten grams in Delhi bullion market on heavy sell-off by stockists as equity markets and rupee recovered after RBI's fresh measures.

Silver also plunged by Rs 1,800 to Rs 53,700 per kg on poor offtake by industrial units and weakening trend in overseas markets.

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 suffered Rs 1250 loss each to quote at Rs 30,950 and Rs 30,750 per ten grams respectively. It had gained Rs 1,100 in last two sessions.

Sovereign declined by Rs 200 to Rs 25,100 per piece of eight gram.

Silver ready dropped by Rs 1,800 to Rs 53,700 per kg and weekly-based delivery by Rs 2400 to Rs 54,600 per kg.

Silver coins also fell by Rs 1,000 to Rs 88,000 for buying and Rs 89,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October rose by Rs 160 to Rs 32,764 per ten grams as against its previous close of Rs 32,604.

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

Similarly, silver benchmark delivery gained by Rs 334 to Rs 53,475 per kg.

International markets

Spot gold last traded up USD 3.90 or 0.28 percent at USD 1,396.70 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 yesterday.

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 30,950 (-1,250) / SILVER: Rs 53,700 (-1,800)

Chennai

GOLD: Rs 30,305/ SILVER: Rs 55,935

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: Thursday, September 05, 2013, 12:04


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