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

Last Updated: Tuesday, October 1, 2013, 13:37
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Extending their early losses, gold prices dropped by Rs 541 to Rs 30,185 per ten grams in futures trade Monday as market participants offloaded their positions in tandem with a weakening trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in October fell by Rs 514 to settle at Rs 30,185 per ten grams as against its previous close of Rs 30,726.

Similarly, silver benchmark delivery declined by Rs 830 to Rs 48,850 per Kg.

Gold price in overseas markets, which normally set price trend on the domestic front, eased as the US Congress, still in partisan deadlock over Republican efforts to halt President Barack Obama's healthcare reforms, was on the verge of shutting down most of the US government starting on Tuesday morning.

However, the yellow metal gained nearly 8 percent for the third quarter, thanks to a sharp rebound rally following a record 23 percent drop in the previous quarter in which it posted a USD 225 two-day
drop in mid April. It was also gold's first quarterly rise since the third quarter of 2012.

Spot gold last quoted at USD 1,328.74 an ounce, down 0.5 percent.

In New York, gold for December delivery declined USD 12.20 to settle at USD 1,327 an ounce on the Comex division of the NYMEX.

Meanwhile, gold prices slipped from a three-week high by losing Rs 315 to Rs 30,885 per ten grams in Delhi bullion market on profit-selling at prevailing higher levels.

Silver also declined by Rs 100 to Rs 49,580 per kg on reduced offtake by industrial units.

Mumbai

Standard gold of 99.5 percent purity dropped by Rs 240 to close at Rs 30,225 per 10 gm from last Saturday's closing level of Rs 30,465.

Pure gold of 99.9 per cent purity slipped by Rs 235 to finish at Rs 30,375 per 10 gm from Rs 30,610.

Silver ready (.999 fineness) dipped Rs 440 to end at Rs 50,290 per kg as against Rs 50,730 last weekend.

Delhi

Gold of 99.9 and 99.5 percent purity plunged by Rs 315 each to Rs 30,885 and Rs 30,685 per ten grams, respectively. It had climbed to a three-week high of Rs 31,200 in the previous session.

Sovereign also lacked necessary follow up support and declined by Rs 100 to Rs 25,000 per piece of eight gram.

In line with a general weak trend, silver ready declined by Rs 100 to Rs 49,580 per kg and weekly-based delivery by Rs 20 to Rs 49,580 per kg. The white metal had surged by Rs 1,225 in the previous session.

However, silver coins held steady at Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October fell by Rs 514 to settle at Rs 30,185 per ten grams as against its previous close of Rs 30,726.

Similarly, silver benchmark delivery declined by Rs 830 to Rs 48,850 per Kg.

International markets

Spot gold last quoted at USD 1,328.74 an ounce, down 0.5 percent.

In New York, gold for December delivery declined USD 12.20 to settle at USD 1,327 an ounce on the Comex division of the NYMEX.

Gold ETF

Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged on Thursday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 30,375 (-235) / SILVER: Rs 50,290 (-440)

Delhi

GOLD: Rs 30,885 (-315) / SILVER: Rs 49,580 (-100)

Chennai

GOLD: Rs 29,830/ SILVER: Rs 48,970

Kolkata

GOLD: Rs 30,965 / SILVER: Rs 49,600

Bangalore

GOLD: Rs 30,424/ SILVER: Rs 49,500

Hyderabad

GOLD: Rs 30,500 / SILVER: Rs 50,000



First Published: Monday, September 30, 2013, 14:41


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