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

Last Updated: Friday, October 04, 2013, 12:25
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold manged to regain 30,000 level by extending its early gains by Rs 676 to Rs 30,204 per ten grams level in futures trade Thursday as market participants enlarged their positions even a range-bound trade overseas.

Appreciation in rupee against dollar, however, limited the upside.

The rupee opened at 62.15 a dollar from the previous close of 62.46 at the interbank foreign exchange market and touched a low of 62.22. It bounced back to a high of 61.65 before settling at 61.73, a rise of 73 paise or 1.17 percent.

At the Multi Commodity Exchange (MCX), gold for delivery in October gained by Rs 676 to Rs 30,204 per ten grams.

Similarly, silver for delivery in December zoomed by Rs 751 to Rs 48,653 per Kg.

Gold price in overseas markets, which normally set price trend on the domestic front, rose after softer US services sector data raised expectations that the Federal Reserve would delay any reduction in economic stimulus, especially with September employment data delayed by the US government shutdown.

The yellow metal rose over 2 percent yesterday, posting the biggest daily gain in two weeks, as the dollar fell to an eight-month low and the shutdown showed no end in sight.

Spot gold last quoted at USD 1,316.89 an ounce, up 0.17 percent.

Meanwhile, snapping its two-day losing trend, gold prices recovered by Rs 220 to Rs 30,600 per ten grams in Delhi bullion market on fresh buying by stockists and jewellers to meet the coming festival and marriage season demand.

However, silver remained weak for the third straight session and shed another Rs 50 to Rs 49,250 per kg on lack of buying support from industrial units. The white metal had lost Rs 380 in last two sessions.

Mumbai

Standard gold of 99.5 percent purity edged down by Rs 5 to end at Rs 29,545 per 10 gm from Wednesday's closing level of Rs 29,550.

Pure gold of 99.9 percent purity eased by Rs 10 to close at Rs 29,690 per 10 gm from Rs 29,700.

Silver ready (.999 fineness) dropped by Rs 310 to finish at Rs 49,265 per kg as against Rs 49,575 yesterday.

Delhi

Gold of 99.9 and 99.5 percent purity recovered sharply by Rs 220 each to Rs 30,600 and Rs 30,400 per ten grams, respectively. It had lost Rs 820 in the previous two sessions. Sovereign followed suit and rose by Rs 200 to Rs 25,100 per piece of eight gram.

On the other hand, silver ready fell further by Rs 50 to Rs 49,250 per kg and weekly-based delivery by Rs 150 to Rs 49,000 per kg.

On the other hand, silver coins found some buying support and spurted 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 gained by Rs 676 to Rs 30,204 per ten grams.

Similarly, silver for delivery in December rose by Rs 751 to Rs 48,653 per Kg.

International markets

Spot gold last quoted at USD 1,316.89 an ounce, up 0.17 percent.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 4.2 tonnes to 901.79 tonnes on Wednesday - the biggest fall in nearly three weeks.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 29,690 (-10) / SILVER: Rs 49,265 (-310)

Delhi

GOLD: Rs 30,600 (+220) / SILVER: Rs 49,250 (-50)

Chennai

GOLD: Rs 29,380/ SILVER: Rs 48,000

Kolkata

GOLD: Rs 29,945 / SILVER: Rs 48,200

Bangalore

GOLD: Rs 29,783/ SILVER: Rs 48,400

Hyderabad

GOLD: Rs 30,100 / SILVER: Rs 50,500




First Published: Thursday, October 03, 2013, 12:25


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