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

Last Updated: Tuesday, September 17, 2013, 09:07
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Extending their early decline, gold prices settled lower by Rs 476 to Rs 29,571 per ten grams in futures trade Friday 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 dropped by Rs 476 to Rs 29,571 per ten grams after moving in range of Rs 29,501-Rs 30,162.

Similarly, silver benchmark delivery declined by Rs 1,085 to Rs 49,410 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, rebounded on late bargain hunting, but poor technical momentum, easing tensions with Syria and expectations that the US Federal Reserve will unwind its monetary stimulus led to the metal's largest weekly loss since late June.

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 last quoted at USD 1,324.26 an ounce, up 0.3 percent after hitting its weakest since August 8 at USD 1,304.56 earlier.

US gold futures for December also touched its lowest since August 9 at USD 1,304.60 an ounce and stood at USD 1308.60, still down USD 22.

The yellow metal lost nearly 5 percent this week for its biggest weekly loss since the week of June 28.

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 fell further by Rs 50 to Rs 30,750 per ten gram in Delhi bullion market after losing Rs 570 in the previous two sessions, while silver dropped Rs 2,000 to Rs 50,300 per kg, after losing Rs 1,030 in last two days.

Mumbai

Standard gold of 99.5 percent purity slumped by Rs 525 to conclude at Rs 29,690 per 10 gm from Thursday's closing level of Rs 30,215.

Pure gold of 99.9 percent purity sank by Rs 525 to end at Rs 29,840 per 10 gm from Rs 30,365.

Silver ready (.999 fineness) tanked by Rs 2,205 to finish at Rs 50,225 per kg as compared to Rs 52,430 previously.

Delhi

Gold of 99.9 and 99.5 per cent purity fell by Rs 50 each to Rs 30,750 and Rs 30,550 per ten gram, respectively. Sovereign declined by Rs 100 to Rs 25,000 per piece of eight gram.

Silver ready dropped by Rs 2,000 to Rs 50,300 per kg and weekly-based delivery by Rs 1,400 to Rs 50,090 per kg. Silver coins also plunged by Rs 1,000 to Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October dropped by Rs 476 to Rs 29,571 per ten grams after moving in range of Rs 29,501-Rs 30,162.

Similarly, silver benchmark delivery declined by Rs 1,085 to Rs 49,410 per kg.

International markets

Spot gold last quoted at USD 1,324.26 an ounce, up 0.3 percent after hitting its weakest since August 8 at USD 1,304.56 earlier.

US gold futures for December also touched its lowest since August 9 at USD 1,304.60 an ounce and stood at USD 1308.60, still down USD 22.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 29,840 (-525)/ SILVER: Rs 50,225 (-2,205)

Delhi

GOLD: Rs 30,750 (-50) / SILVER: Rs 50,300 (-2,000)

Chennai

GOLD: Rs 30,195 / SILVER: Rs 49,270

Kolkata

GOLD: Rs 30,245 / SILVER: Rs 49,800

Bangalore

GOLD: Rs 30,722/ SILVER: Rs 51,100

Hyderabad

GOLD: Rs 30,700 / SILVER: Rs 53,200



First Published: Friday, September 13, 2013, 20:43


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