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

Last Updated: Monday, September 23, 2013, 09:34
 
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Gold price today: Latest updates

Zee Media Bureau/Ajeet Kumar

Gold prices reclaimed Rs 30,000 level by gaining Rs 557 to Rs 30,128 per ten grams in futures trade Saturday as market participants enlarged their positions in tandem with a late bargain hunting in international markets yesterday.

At the Multi Commodity Exchange (MCX), gold for delivery in October recovered by Rs 557 to end the week at Rs 30,128 per ten grams as against its previous closing of Rs 29,571.

Similarly, silver benchmark delivery rose by Rs 1,266 to Rs 50,676 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 prices fell for the fourth straight day in Delhi bullion market by falling Rs 450 to Rs 30,300 per ten grams on sustained selling amid a weak global trend.

However, silver recovered by Rs 450 to Rs 50,750 per kg on increased offtake by industrial units.

Delhi

Gold of 99.9 and 99.5 percent purity tumbled by Rs 450 each to Rs 30,300 and Rs 30,100 per ten grams, respectively. The yellow metal had lost Rs 620 in last three sessions.

Sovereign held steady at Rs 25,000 per piece of eight grams in restricted buying.

On the other hand, silver ready recovered by Rs 450 to Rs 50,750 per kg and weekly-based delivery by Rs 410 to Rs 50,500 per kg. The white metal had lost Rs 4,000 in the previous four sessions.

Silver coins continued to be asked around previous level of Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity rose Rs 460 to finish at Rs 30,150 per 10 gram from last closing level of Rs 29,690.

Pure gold of 99.9 percent purity climbed Rs 460 to end at Rs 30,300 per 10 gram from yesterday's closing level of Rs 29,840.

Silver ready (.999 fineness) jumped Rs 975 to conclude at Rs 51,200 per kg from Friday's closing level of Rs 50,225.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October recovered by Rs 557 to end the week at Rs 30,128 per ten grams as against its previous closing of Rs 29,571.

Similarly, silver benchmark delivery rose by Rs 1,266 to Rs 50,676 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: 30,300 (+460)/ SILVER: Rs 51,200 (+975)

Delhi

GOLD: Rs 30,300 (-450) / SILVER: Rs 50,750 (+450)

Chennai

GOLD: Rs 30,190 / SILVER: Rs 50,910

Kolkata

GOLD: Rs 30,550 / SILVER: Rs 50,500

Bangalore

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

Hyderabad

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




First Published: Saturday, September 14, 2013, 13:29


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