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

Last Updated: Friday, November 01, 2013, 12:42
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Extending their early slide, gold prices quoted lower by Rs 405 to Rs 29,753 per ten grams in futures trade Thursday as market participants offloaded their positions, in tandem with a weakening trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in December declined by Rs 405 to Rs 29,753 per ten grams after moving in range of Rs 29,675-Rs 30,200.

Similarly, silver for delivery in December tanked by Rs 1,540 to Rs 48,488 per Kg.

Gold price in overseas markets, which normally set price trend on the domestic front, weakened by nearly 1.5 percent after the Federal Reserve's latest policy outlook was deemed less dovish than some had expected, lifting the dollar index to two-week highs.

The yellow metal had gained ground over the past two weeks, with gold hitting a five-week high on Tuesday, on expectations that the Fed would stay very wary on the U.S. growth outlook.

But it slumped after the US central bank did not sound quite as alarmed about the state of the economy as some had anticipated after its latest policy meeting, although it kept its USD 85 billion-a-month stimulus plan intact.

Spot gold was down 1.3 percent at USD 1,325.16 an ounce, after falling to its lowest since Oct. 22 at USD 1,321.34. US gold futures for December delivery were down USD 24.30 an ounce at USD 1,325.00.

Meanwhile, gold prices tumbled by Rs 260 to Rs 31,450 per ten grams in Delhi bullion market on heavy selling by stockists, triggered by weak global trend.

Silver also fell by Rs 550 to Rs 49,550 per kg on lack of buying support from industrial units and coin manufacturers at prevailing higher levels.

Mumbai

Standard gold of 99.5 percent purity tanked by Rs 420 to close at Rs 30,680 per 10 grams from Wednesday's closing level of Rs 31,100.

Pure gold of 99.9 percent purity also slumped by a similar margin to finish at Rs 30,830 per 10 grams as against Rs 31,250.

Silver ready (.999 fineness) dropped by Rs 545 to conclude at Rs 49,985 per kg from Rs 50,530 previously.

Delhi

Gold of 99.9 and 99.5 percent purity remained under selling pressure and tumbled further by Rs 260 each at Rs 31,450 and Rs 31,250 per ten grams, respectively. It had lost Rs 860 in the last three sessions.

Sovereign, however, remained steady at Rs 25,300 per piece of eight gram in restricted buying.

In line with a general weak trend, silver ready declined by Rs 550 to Rs 49,550 per kg and weekly-based delivery by Rs 680 to Rs 49,120 per kg. The white metal had gained Rs 510 yesterday.

Silver coins also dropped by Rs 1,000 to Rs 87,000 for buying and Rs 88,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in December declined by Rs 405 to Rs 29,753 per ten grams after moving in range of Rs 29,675-Rs 30,200.

Similarly, silver for delivery in December tanked by Rs 1,540 to Rs 48,488 per Kg.

International markets

Spot gold was down 1.3 percent at USD 1,325.16 an ounce, after falling to its lowest since Oct. 22 at USD 1,321.34. US gold futures for December delivery were down USD 24.30 an ounce at USD 1,325.00.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 30,830 (-420) / SILVER: Rs 49,985 (-545)

Delhi

GOLD: Rs 31,450 (-260) / SILVER: Rs 49,550 (-550)

Chennai

GOLD: Rs 30,495/ SILVER: Rs 49,385

Kolkata

GOLD: Rs 31,500 / SILVER: Rs 49,200

Bangalore

GOLD: Rs 31,128/ SILVER: Rs 49,100

Hyderabad

GOLD: Rs 31,380/ SILVER: Rs 50,400



First Published: Thursday, October 31, 2013, 12:33


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