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Gold price today: Latest updates

Last Updated: Thursday, December 19, 2013 - 13:59

Zee Media Bureau/Ajeet Kumar

Gold prices extended their early gains and quoted up by Rs 164 at Rs 28,842 per ten grams in futures trade Wednesday as market participants enlarged their positions in tandem with a firming trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in February rose by Rs 164 to Rs 28,842 per ten grams after moving in range of Rs 28,672- Rs 28,885.

Similarly, silver for delivery in March gained by Rs 474 to Rs 45,208 per Kg.

Gold price in overseas markets, which normally set price trend on the domestic front, moved up marginally ahead of a policy decision from the Federal Reserve on its bond-buying program.

The Fed will issue a statement at the end of its two-day policy meeting later today at 1900 GMT.

In New York, gold for February delivery inched up by USD 1 or 0.07 percent at USD 1,231 an ounce on the Comex division of the NYMEX.

Meanwhile, gold prices recovered by Rs 30 to Rs 30,430 per ten grams at Delhi bullion market on low level buying, while silver lost Rs 430 to Rs 44,650 per kg on reduced offtake.

In Mumbai, gold traded higher at Rs 30,330 per 10 grams and silver traded lower at Rs 44,400 per kg.

Delhi

Gold of 99.9 and 99.5 percent purity recovered by Rs 30 each to Rs 30,430 and Rs 30,230 per 10 grams, respectively, after losing Rs 530 in last two trade.

Sovereigns followed suit and gained Rs 50 to Rs 25,200 per piece of eight grams.

On the other hand, silver ready fell by Rs 430 to Rs 44,650 per kg and weekly-based delivery by Rs 580 to Rs 45,000 per kg. The white metal had surged by Rs 1,080 yesterday.

Silver coins dropped by Rs 1,000 to Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces on fall in demand at prevailing higher levels.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in February rose by Rs 164 to Rs 28,842 per ten grams after moving in range of Rs 28,672- Rs 28,885.

Similarly, silver for delivery in March gained by Rs 474 to Rs 45,208 per Kg.

International markets

In New York, gold for February delivery inched up by USD 1 or 0.07 percent at USD 1,231 an ounce on the Comex division of the NYMEX.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 2.08 tonnes to 816.82 tonnes on Tuesday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: Rs 30,330 / SILVER: Rs 44,400

Delhi

GOLD: Rs 30,430 (+30) / SILVER: Rs 44,650 (-430)

Chennai

GOLD: Rs 29,900/ SILVER: Rs 44,560

Kolkata

GOLD: Rs 29,950/ SILVER: Rs 44,500

Bangalore

GOLD: Rs 30,383/ SILVER: Rs 44,900

Hyderabad

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

First Published: Wednesday, December 18, 2013 - 13:32
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