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

Last Updated: Thursday, October 17, 2013, 13:13
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold prices edged higher by Rs 85 to Rs 28,872 per ten grams in futures trade Tuesday as market participants enlarged some of their positions even a weakening trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in December rose by Rs 85 to Rs 28,872 per ten grams.

Similarly, silver for delivery in December moved up by Rs 64 to Rs 47,310 per Kg.

Gold price in overseas markets, which normally set price trend on the domestic front, fell to its lowest in three months today as the belief that policymakers are close to resolving US debt negotiations in Washington lifted stock markets and the dollar, curbing interest in the metal as a refuge from risk.

Spot gold was down 1 percent at USD 1,260.60, having earlier hit its lowest since July 10 at USD 1,251.66. US gold futures for December delivery were down USD 15 at USD 1,261.60.

Meanwhile, gold dropped by Rs 225 to Rs 30,550 per ten grams in Delhi bullion market on sluggish demand at prevailing higher levels amid a weak global trend.

On the other hand, silver plunged Rs 520 to Rs 47,050 per kg on reduced offtake by jewellers and industrial units.

Mumbai

Standard gold of 99.5 percent purity fell by Rs 130 to end at Rs 30,265 per 10 gram, from Monday's closing level of Rs 30,395.

Pure gold of 99.9 percent purity added Rs 115 to finish at Rs 30,415 per 10 gram from Rs 30,530.

Silver ready (.999 fineness) slumped by a hefty Rs 1,435 to end at Rs 47,225 per kg from Rs 48,660 previously.

Delhi

Gold of 99.9 and 99.5 percent purity plunged by Rs 225 each to Rs 30,550 and Rs 30,350 per ten grams, respectively. It had gained Rs 575 yesterday.

Sovereign, however, remained steady at Rs 25,100 per piece of eight gram in limited deals.

In line with a general weak trend, silver ready dropped by Rs 520 to Rs 47,050 per kg and weekly-based delivery by the same margin to Rs 46,750 per kg. The white metal had gained Rs 680 in the previous session.

Silver coins also tumbled by Rs 1,000 to Rs 83,000 for buying and Rs 84,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in December rose by Rs 85 to Rs 28,872 per ten grams.

Similarly, silver for delivery in December moved up by Rs 64 to Rs 47,310 per Kg.

International markets

Spot gold was down 1 percent at USD 1,260.60, having earlier hit its lowest since July 10 at USD 1,251.66. US gold futures for December delivery were down USD 15 at USD 1,261.60.

Gold ETF

The gold holdings of SPDR Gold Trust, the world's largest gold-backed ETF, dropped 1.8 tonnes to 4-1/2 year low on Monday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 30,415 (+115) / SILVER: Rs 47,225 (-1,435)

Delhi

GOLD: Rs 30,550 (-225) / SILVER: Rs 47,050 (-520)

Chennai

GOLD: Rs 30,195/ SILVER: Rs 46,355

Kolkata

GOLD: Rs 30,550 / SILVER: Rs 46,600

Bangalore

GOLD: Rs 30,175/ SILVER: Rs 47,600

Hyderabad

GOLD: Rs 30,000 / SILVER: Rs 50,100



First Published: Tuesday, October 15, 2013, 19:30


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