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

Last Updated: Monday, October 21, 2013, 12:23
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold prices extended their yesterday's rally by Rs 233 to Rs 29,771 per ten grams in futures trade Friday as market participants created more fresh positions in tandem with a firming trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in December rose further by Rs 233 to Rs 29,771 per ten grams.

Similarly, silver for delivery in December moved higher by Rs 387 to Rs 48,513 per Kg.

Gold price in overseas markets, which normally set price trend on the domestic front, was trading near one-week high today and headed for its best weekly gain in two months on hopes that uncertainties in Washington would prompt the Federal Reserve to delay its stimulus tapering.

Gold fell about 4 percent during the US government shutdown, but jumped 3 percent on Thursday after the dollar dropped to eight-month lows and a Chinese rating agency downgraded the US sovereign rating.

Spot gold last traded up 0.2 percent at USD 1,321.66 an ounce, recording a near 4 percent gain for the week.

In New York, gold for December delivery jumped by USD 40.70 or 3.2 percent to settle at USD 1,323 an ounce on the Comex division of the NYMEX.

Meanwhile, snapping a two-day rising trend, gold prices fell by Rs 120 to Rs 31,500 per ten grams in Delhi bullion market on slackened demand at existing higher levels amid weak global cues.

However, silver rose for the third straight session by adding Rs 375 to Rs 48,800 per kg on increased offtake by industrial units and coin makers.

Mumbai

Standard gold of 99.5 percent purity moved down by Rs 20 to finish at Rs 30,950 per 10 gram from Thursday's closing level of Rs 30,970.

Pure gold of 99.9 percent purity also slipped by a similar margin to end at Rs 31,100 per 10 gram from Rs 31,120 previously.

Silver ready (.999 fineness) closed unchanged at its previous closing level of Rs 49,000 per kg.

Delhi

Gold of 99.9 and 99.5 percent purity fell by Rs 120 each to Rs 31,500 and Rs 31,300 per ten grams, respectively after gaining Rs 1,070 in last two days.

Sovereign held steady at Rs 25,200 per piece of eight grams.

On the other hand, silver ready advanced by Rs 375 to Rs 48,800 per kg and weekly-based delivery by the same margin to Rs 48,500 per kg. The white metal had gained Rs 1,375 in the previous two sessions.

On the other hand, silver coins lacked necessary buying support and tumbled 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 December rose further by Rs 233 to Rs 29,771 per ten grams.

Similarly, silver for delivery in December moved higher by Rs 387 to Rs 48,513 per Kg.

International markets

Spot gold last traded up 0.2 percent at USD 1,321.66 an ounce, recording a near 4 percent gain for the week.

In New York, gold for December delivery jumped by USD 40.70 or 3.2 percent to settle at USD 1,323 an ounce on the Comex division of the NYMEX.

Gold ETF

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 3.6 tonnes to 885.53 tonnes on Wednesday - hitting fresh four-year low.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 31,100 (-20) / SILVER: Rs 49,000

Delhi

GOLD: Rs 31,500 (-120) / SILVER: Rs 48,800 (+375)

Chennai

GOLD: Rs 31,170/ SILVER: Rs 48,190

Kolkata

GOLD: Rs 31,350 / SILVER: Rs 48,100

Bangalore

GOLD: Rs 31,459/ SILVER: Rs 48,600

Hyderabad

GOLD: Rs 31,400 / SILVER: Rs ----



First Published: Friday, October 18, 2013, 13:29


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