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Gold price today: Latest updates

Last Updated: Saturday, September 14, 2013 - 10:43

Zee Media Bureau/Ajeet Kumar

Gold prices declined by Rs 327 to Rs 31,291 per ten grams in futures trade Tuesday as speculators offloaded their positions in tandem with a weak global trend amid strengthening rupee.

The rupee resumed higher at 64.40 against the last weekend's level of 65.24 per dollar at the Interbank Foreign Exchange Market and moved up further to 64.15 per dollar.

At the Multi Commodity Exchange (MCX), gold for delivery in October fell by Rs 327 to Rs 31,291 per ten grams.

Similarly, silver benchmark delivery declined by Rs 1,120 to Rs 52,997 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, fell today on expectations that the US Federal Reserve will opt to taper its monetary stimulus programme after the Fed's Open Market Committee (FOMC) meeting on Sept. 17-18.

Spot gold last traded down USD 9.40 at 1,377.40 per ounce.

In New York, gold for December delivery gained by 22 cents to USD 1,386.70 an ounce on the Comex division of the NYMEX.

Gold rose to a 3-1/2 month high of USD 1,433.31 an ounce in late August on safe-having buying after the United States and its allies looked close to launching an imminent military strike on Syria.

Meanwhile, gold prices recovered by Rs 270 to Rs 31,370 per ten gram in Delhi bullion market on fresh buying by stockists despite a weak global trend.

However, silver plunged by Rs 970 to Rs 53,330 per kg on reduced offtake by industrial units and coin makers amid a weak global trend.

Mumbai

Standard gold of 99.5 percent purity climbed by Rs 190 to finish at Rs 30,970 per 10 gm from overnight closing level of Rs 30,780.

Pure gold of 99.9 percent purity rose by Rs 180 to end at Rs 31,110 per 10 gm from Rs 30,930.

Silver ready (.999 fineness) shot up by Rs 1,485 to conclude at 55,670 per kg from Friday's closing level of Rs 54,185.

Delhi

Gold of 99.9 and 99.5 percent purity recovered by Rs 270 each to Rs 31,370 and Rs 31,170 per ten grams, respectively, after losing Rs 625 yesterday.

Sovereign held steady at Rs 25,200 per piece of eight gram in limited deals.

On the other hand, silver ready dropped by Rs 970 to Rs 53,330 per kg and weekly-based delivery by Rs 1595 to Rs 53,300 per kg. Silver coins followed suit and plunged by Rs 1,000 to Rs 87,000 for buying and Rs 88,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October fell by Rs 327 to Rs 31,291 per ten grams.

Similarly, silver benchmark delivery declined by Rs 1,120 to Rs 52,997 per kg.

International markets

Spot gold last traded down USD 9.40 at 1,377.40 per ounce.

In New York, gold for December delivery gained by 22 cents to USD 1,386.70 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 0.23 percent to 917.13 tonnes on Monday from 919.23 tonnes on Friday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 31,110 (+180)/ SILVER: Rs 55,670 (+1,485)

Delhi

GOLD: Rs 31,370 (+270) / SILVER: Rs 53,330 (-970)

Chennai

GOLD: Rs 30,255 / SILVER: Rs 53,685

Kolkata

GOLD: Rs 31,465 / SILVER: Rs 52,000

Bangalore

GOLD: Rs 32,647/ SILVER: Rs 54,000

Hyderabad

GOLD: Rs 30,800 / SILVER: Rs 54,800

First Published: Tuesday, September 10, 2013 - 14:37
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