Zee Media Bureau/Ajeet Kumar
Tracking fag-end short-covering in overseas markets, gold prices ended the week by recovering from their 2-month low of Rs 28,276 to Rs 28,554 per ten grams in futures trade Friday.
At the Multi Commodity Exchange (MCX), gold for delivery in February recovered by Rs 192 to settle at Rs 28,554 per ten grams after moving in range of Rs 28,276- Rs 28,649.
Similarly, silver for delivery in March gained by Rs 138 to Rs 44,007 per Kg.
Gold price in overseas markets, which normally set price trend on the domestic front, dipped to a fresh 6-month low of USD 1,185.10 an ounce early Friday.
However, the yellow metal regained some of its lost ground and reclaimed USD 1,200 level in second half of trade. Spot gold last traded up 1 percent at USD 1,202 per ounce on short-covering.
In New York, gold for February delivery rebounded by USD 10.10 or 0.9 percent at USD 1,203.70 an ounce on the Comex division of the NYMEX.
The metal is down around 3 percent this week, and some 28 percent year-to-date. It is also preparing to log its first annual price fall since 2000.
Meanwhile, gold prices recovered by Rs 240 to Rs 30,400 per ten grams at Delhi bullion market Saturday on emergence of buying at existing lower levels amid a firm global trend.
Silver also snapped three-day losing streak by gaining Rs 450 to Rs 43,950 per kg on increased offtake by industrial units and coin makers.Delhi
Gold of 99.9 and 99.5 percent purity gained by Rs 240 to Rs 30,400 and Rs 30,200 per ten grams, respectively. It had lost Rs 270 in last two sessions.
Sovereign, however, held steady at Rs 25,150 per piece of eight gram.
In line with a general firm trend, silver ready rebounded by Rs 450 to Rs 43,950 per kg and weekly-based delivery by Rs 200 to Rs 44,000 per kg. The white metal had lost Rs 1,580 in the previous three sessions.
Silver coins also jumped up by Rs 1,000 to Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.International markets
Spot gold last traded up 1 percent at USD 1,202 per ounce on short-covering.
In New York, gold for February delivery rebounded by USD 10.10 or 0.9 percent at USD 1,203.70 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 3.90 tonnes to 808.72 tonnes on Thursday, the lowest in nearly five years.Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)Mumbai
GOLD: Rs 29,630 / SILVER: Rs 42,800Delhi
GOLD: Rs 30,400 (+240) / SILVER: Rs 43,950 (+450)Chennai
GOLD: Rs 29,770/ SILVER: Rs 43,465Kolkata
GOLD: Rs 29,925/ SILVER: Rs 43,550Bangalore
GOLD: Rs 30,246/ SILVER: Rs 44,000Hyderabad
GOLD: Rs 30,000/ SILVER: Rs 44,400
First Published: Saturday, December 21, 2013, 17:49