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

Last Updated: Thursday, October 03, 2013, 13:32
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold prices tanked by Rs 897 to settle at Rs 29,528 per ten grams in futures trade Tuesday as market participants offloaded their positions in tandem with a weakening trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in October nosedived by Rs 897 to close at Rs 29,528 per ten grams.

Similarly, silver benchmark delivery fell by Rs 1,246 to Rs 47,902 per Kg.

Gold price in overseas markets, which normally set price trend on the domestic front, dropped by over 3 percent to its lowest level in almost two months as an unusually large trade in the New York futures market rattled investors already edgy over a partial shutdown of the US government.

After missing a midnight deadline because of a political stalemate in Congress, US federal agencies started to cut back services, potentially putting up to 1 million workers on unpaid leave.

Spot gold last quoted at USD 1,289.51 an ounce, down 2.8 percent, after hitting an intra-day low of USD 1,278.24, its lowest price since Aug. 7.

In New York, gold for December delivery declined by USD 40.90 to settle at USD 1,286.10 an ounce on the Comex division of the NYMEX.

Meanwhile, both gold and silver extended losses for the second straight day in Delhi bullion market, on sluggish demand due to ongoing 'Sharadhs', amid a weak global trend.

While gold plunged by Rs 505 to Rs 30,380 per ten grams, silver fell by Rs 280 to Rs 49,300 per kg.

Mumbai

Standard gold of 99.5 percent purity fell by Rs 310 to conclude at Rs 29,915 per 10 gm from Monday's closing level of Rs 30,225.

Pure gold of 99.9 percent purity also dropped by a similar margin to end at Rs 30,065 per 10 gm from Rs 30,375.

Silver ready (.999 fineness) declined Rs 380 to finish at Rs 49,910 per kg as compared to Rs 50,290 yesterday.

Delhi

Gold of 99.9 and 99.5 percent purity plunged by Rs 505 each to Rs 30,380 and Rs 30,180 per ten grams, respectively. Sovereign followed suit and declined by Rs 100 to Rs 24,900 per piece of eight gram.

In a similar fashion, silver ready fell further by Rs 280 to Rs 49,300 per kg and weekly-based delivery by Rs 430 to Rs 49,150 per kg.

Silver coins also tumbled by Rs 1,000 to Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October nosedived by Rs 897 to close at Rs 29,528 per ten grams.

Similarly, silver benchmark delivery fell by Rs 1,246 to Rs 47,902 per Kg.

International markets

Spot gold last quoted at USD 1,289.51 an ounce, down 2.8 percent, after hitting an intra-day low of USD 1,278.24, its lowest price since Aug. 7.

In New York, gold for December delivery declined by USD 40.90 to settle at USD 1,286.10 an ounce on the Comex division of the NYMEX.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 30,065 / SILVER: Rs 49,910

Delhi

GOLD: Rs 30,380 (-505) / SILVER: Rs 49,300 (-280)

Chennai

GOLD: Rs 29,735/ SILVER: Rs 48,750

Kolkata

GOLD: Rs 30,855 / SILVER: Rs 49,200

Bangalore

GOLD: Rs 30,229/ SILVER: Rs 49,300

Hyderabad

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




First Published: Tuesday, October 01, 2013, 13:57


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