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

Last Updated: Friday, December 13, 2013, 19:07
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold prices extended their early downturn and quoted down by Rs 235 to Rs 29,225 per ten grams in futures trade Thursday as speculators trimmed their positions, moving in tandem with a weakening trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in February moved lower by Rs 235 to Rs 29,225 per ten grams.

Similarly, silver for delivery in March weakened by Rs 1,211 to Rs 44,519 per Kg.

Gold price in overseas markets, which normally set price trend on the domestic front, tumbled by over 2 percent, with a short-covering rally fizzling out as expectations grew that the Federal Reserve would reduce its huge stimulus programme after a provisional budget deal in Washington.

Spot gold last traded down USD 23.50 or 1.88 percent at USD 1,229.80 an ounce after moving in range of USD 1,224.30 - USD 1,258.30.

In New York, gold for February delivery dropped by USD 29 or 2.32 percent to USD 1,228 an ounce on the Comex division of the NYMEX.

Meanwhile, gold prices fell by Rs 110 to Rs 31,040 per ten grams at Delhi bullion market on profit-selling by stockists at existing higher levels amid a weak global trend.

However, silver gained for the third straight day by adding Rs 60 to Rs 45,060 per kg on increased offtake by industrial units and coin makers.

Delhi

Gold of 99.9 and 99.5 percent purity fell by Rs 110 each to Rs 31,040 and Rs 30,840 per ten grams, respectively. It had gained Rs 425 yesterday. Sovereign held steady at Rs 25,300 per piece of eight gram.

On the other hand, silver ready rose by Rs 60 to Rs 45,060 per kg and weekly-based delivery by similar margin to Rs 45,660 per kg. The white metal had gained Rs 1,530 in the previous two sessions.

Silver coins continued to be asked at last level of 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 February moved lower by Rs 235 to Rs 29,225 per ten grams.

Similarly, silver for delivery in March weakened by Rs 1,211 to Rs 44,519 per Kg.

International markets

Spot gold last traded down USD 23.50 or 1.88 percent at USD 1,229.80 an ounce after moving in range of USD 1,224.30 - USD 1,258.30.

In New York, gold for February delivery dropped by USD 29 or 2.32 percent to USD 1,228 an ounce on the Comex division of the NYMEX.

Gold ETF

Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 2.10 tonnes to the lowest since early 2009 at 833.61 tonnes on Wednesday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: ----- / SILVER: ------

Delhi

GOLD: Rs 31,040 (-110) / SILVER: Rs 45,060 (+60)

Chennai

GOLD: Rs 29,920/ SILVER: Rs 44,710

Kolkata

GOLD: Rs 30,350/ SILVER: Rs 44,550

Bangalore

GOLD: Rs 30,624/ SILVER: Rs 44,600

Hyderabad

GOLD: Rs 30,650/ SILVER: Rs 44,800



First Published: Thursday, December 12, 2013, 12:50


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