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

Last Updated: Saturday, September 14, 2013, 10:41
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold prices fell further by Rs 38 to Rs 30,644 per ten grams in futures trade Thursday as speculators continued to offload their positions in tandem with a weakening trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in October edged down by Rs 38 to Rs 30,644 per ten grams as against its previous close of Rs 30,682.

Similarly, silver benchmark delivery declined by Rs 198 to Rs 52,241 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, fell more than half a percent to its weakest level in three weeks, as hope grew that a US strike on Syria could be avoided and on expectations the US Federal Reserve would start to unwind its monetary stimulus soon.

The US central bank's Federal Open Market Committee is set to release a policy statement at the end of its two-day meeting next Wednesday.

Spot gold had dropped USD 8.03 to USD 1,358.11 an ounce, after hitting a low of USD 1,354.10 - its weakest since August 20.

In New York, gold for December delivery fell by USD 20 cents to USD 1,363.80 an ounce on the Comex division of the NYMEX yesterday.

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 Rs 140 to finish at Rs 30,280 per 10 gm from Tuesday's closing level of Rs 30,420.

Pure gold of 99.9 percent purity fell Rs 165 to conclude at Rs 30,420 per 10 gm from Rs 30,585.

Silver ready (.999 fineness) slumped Rs 1,050 to end at Rs 52,635 per kg from Rs 53,685 previously.

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 down by Rs 38 to Rs 30,644 per ten grams as against its previous close of Rs 30,682.

Similarly, silver benchmark delivery declined by Rs 198 to Rs 52,241 per kg.

International markets

At the Multi Commodity Exchange (MCX), gold for delivery in October edged down by Rs 38 to Rs 30,644 per ten grams as against its previous close of Rs 30,682.

Similarly, silver benchmark delivery declined by Rs 198 to Rs 52,241 per kg.

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: 30,420 (-165)/ SILVER: Rs 52,635 (-1,050)

Delhi

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

Chennai

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

Kolkata

GOLD: Rs 31,050 / SILVER: Rs 51,500

Bangalore

GOLD: Rs 31,658/ SILVER: Rs 52,100

Hyderabad

GOLD: Rs 30,600 / SILVER: Rs 54,000



First Published: Thursday, September 12, 2013, 12:22


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