Zee Media Bureau/Ajeet Kumar
Gold prices continued to trade lower in futures trade Thursday as market participants offloaded some of their positions even a firming trend overseas.
Appreciation in rupee against US dollar mainly weighed on yellow metal prices.
At the Multi Commodity Exchange (MCX), gold for delivery in February slipped further by Rs 65 to Rs 29,140 per ten grams.
Similarly, silver for delivery in March dropped by Rs 186 to Rs 44,275 per Kg.
Gold price in overseas markets, which normally set price trend on the domestic front, gained today, after falling sharply yesterday, but was still on course for a weekly loss as investors focused on US employment data that might lead to the curbing of monetary stimulus.
Spot gold last traded up USD 3.20 or 0.26 percent at USD 1,229.30 an ounce, on course for a nearly 2 percent weekly drop after plumbing five-month low earlier this week.
Meanwhile, gold prices fell by Rs 465 to Rs 30,785 per ten gram at Delhi bullion market on reduced offtake by stockists at existing higher levels amid a weak global trend.
Silver remained under selling pressure for the fourth straight day and lost Rs 200 to Rs 43,600 per kg, after losing Rs 1,275 in the previous three sessions.Mumbai
Standard gold (99.5 purity) dropped by Rs 325 to end at Rs 30,500 per 10 grams from Thursday's closing level of Rs 30,825.
Pure gold (99.9 purity) also slumped by a similar margin to close at Rs 30,650 per 10 grams from Rs 30,975.
Silver ready (.999 fineness) shed Rs 400 to finish at Rs 44,450 per kg as compared to Rs 44,850 previously.Delhi
Gold of 99.9 and 99.5 percent purity tumbled by Rs 465 each to Rs 30,785 and Rs 30,585 per ten gram, respectively. It had shot up by Rs 450 yesterday. Sovereign held steady at Rs 25,200 per piece of eight gram in scattered deals.
Similarly, silver ready fell by Rs 200 to Rs 43,600 per kg and weekly-based delivery by Rs 120 to Rs 44,180 per kg, while silver coins remained unchanged at Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces.Futures Trade (MCX)
At the Multi Commodity Exchange (MCX), gold for delivery in February slipped further by Rs 65 to Rs 29,140 per ten grams after moving in range of Rs 30,412- Rs 30,957.
Similarly, silver for delivery in March dropped by Rs 186 to Rs 44,275 per Kg. International markets
Spot gold last traded up USD 3.20 or 0.26 percent at USD 1,229.30 an ounce, on course for a nearly 2 percent weekly drop after plumbing five-month low earlier this week.Gold ETF
Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 2.70 tonnes to 838.71 tonnes on Wednesday - their lowest since early 2009. Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)Mumbai
GOLD: 30,650 (-325) / SILVER: Rs 44,450 ( -400)Delhi
GOLD: Rs 30,785 (-765) / SILVER: Rs 43,600 (-200)Chennai
GOLD: Rs 29,980/ SILVER: Rs 43,350Kolkata
GOLD: Rs 30,550/ SILVER: Rs 43,600Bangalore
GOLD: Rs 30,814/ SILVER: Rs 43,800Hyderabad
GOLD: Rs 31,250/ SILVER: Rs 45,800
First Published: Friday, December 6, 2013, 17:38