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

Last Updated: Saturday, September 14, 2013, 10:42
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold prices hovered in tight range in futures trade Wednesday as speculators remained cautious in tandem with a steady global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in October edged up by Rs 18 to Rs 30,771 per ten grams.

Similarly, silver benchmark delivery rose by Rs 125 to Rs 52,360 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, slipped to a three-week low today before recovering on bargain-hunting, but hopes a US military strike against Syria could be averted dented its safe-haven appeal.

Gold, which has fallen more than 18 percent this year, is also being hurt by expectations the US Federal Reserve will opt to taper its monetary stimulus programme after a meeting on Sept. 17-18.

Spot gold hit a low of USD 1,356.85 an ounce, its weakest since August 22, and stood at USD 1,366.61, up USD 3.02 on the day.

In New York, gold for December delivery fell by USD 22.70 or 1.6 percent to USD 1,364 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 fell by Rs 130 to Rs 31,240 per ten gram in Delhi bullion market due to reduced offtake at existing higher levels amid a weak global trend.

Silver also fell further by Rs 720 to Rs 52,610 per kg on lack of buying support from industrial units and coin makers amid a weak global trend.

Mumbai

Standard gold of 99.5 percent purity dropped by Rs 550 to close at Rs 30,420 per 10 gm from last Saturday's closing level of Rs 30,970.

Pure gold of 99.9 percent purity dipped by Rs 525 to finish at Rs 30,585 per 10 gm from Rs 31,110.

Silver ready (.999 fineness) tumbled by Rs 1,985 to conclude at 53,685 per kg as against Rs 55,670 last weekend.

Delhi

Gold of 99.9 and 99.5 percent purity fell by Rs 130 each to Rs 31,240 and Rs 31,040 per ten gram, respectively. The yellow metal had gained Rs 270 yesterday. Sovereign remained steady at Rs 25,200 per piece of eight gram in limited deals.

Silver ready fell further by Rs 720 to Rs 52,610 per kg and weekly-based delivery by Rs 690 to Rs 52,610 per kg. The white metal had lost Rs 970 in the previous session.

However, silver coins held steady at Rs 87,000 for buying and Rs 88,000 for selling of 100 pieces in restricted buying.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October edged up by Rs 18 to Rs 30,771 per ten grams.

Similarly, silver benchmark delivery rose by Rs 125 to Rs 52,360 per kg.

International markets

Spot gold hit a low of USD 1,356.85 an ounce, its weakest since August 22, and stood at USD 1,366.61, up USD 3.02 on the day.

In New York, gold for December delivery fell by USD 22.70 or 1.6 percent to USD 1,364 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: 30,585 (-525)/ SILVER: Rs 53,685 (-1,985)

Delhi

GOLD: Rs 31,240 (-130) / SILVER: Rs 52,610 (-720)

Chennai

GOLD: Rs 30,170 / SILVER: Rs 53,470

Kolkata

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

Bangalore

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

Hyderabad

GOLD: Rs 30,550 / SILVER: Rs 53,800




First Published: Wednesday, September 11, 2013, 13:50


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