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

Last Updated: Friday, December 27, 2013, 17:27
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold prices recovered by Rs 90 to Rs 28,454 per ten grams in futures trade Tuesday as some of the market participants created fresh positions in tandem with a firming trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in February edged higher by Rs 90 to Rs 28,454 per ten grams after moving in range of Rs 28,282- Rs 28,479.

Similarly, silver for delivery in March gained by Rs 79 to Rs 43,992 per Kg.

Gold in overseas markets, which normally set price trend on the domestic front, moved higher by 0.5 percent today, but it is down nearly 28 percent for the year, and is headed for its worst annual fall in 32 years.

Spot gold last traded up USD 6.30 or 0.53 percent at USD 1,205.70 an ounce, after falling 0.3 percent yesterday.

In New York, gold for February delivery traded up by USD 7 or 0.58 percent at USD 1,204 an ounce on the Comex division of the NYMEX.

It plunged to a six-month low of USD 1,185.10 last week after the Fed announced it would begin tapering its USD 85 billion in monthly bond purchases from next month, before recovering slightly on short-covering.

Meanwhile, extending losses for the second straight day, gold fell by Rs 175 to Rs 30,050 per ten grams at Delhi bullion market on sustained selling by stockists amid weakening global trend.

Silver also declined for the second consecutive session by Rs 120 to Rs 43,550 per kg on reduced offtake by jewellers and industrial units.

Delhi

Gold of 99.9 and 99.5 percent purity remained under selling pressure and lost another Rs 175 each at Rs 30,050 and Rs 29,850 per ten grams, respectively. It had lost Rs 175 yesterday.

Sovereign, however, held steady at Rs 25,100 per piece of eight gram in limited deals.

Similarly, silver ready declined by Rs 120 to Rs 43,550 per kg and weekly-based delivery by Rs 230 to Rs 43,740 per kg. The white metal had shed Rs 280 in the previous session.

Silver coins followed suit and dropped by Rs 1,000 to Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces.

International markets

Spot gold last traded up USD 6.30 or 0.53 percent at USD 1,205.70 an ounce, after falling 0.3 percent yesterday.

In New York, gold for February delivery traded up by USD 7 or 0.58 percent at USD 1,204 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 8.40 tonnes to 805.72 tonnes on Monday, 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 42,800

Delhi

GOLD: Rs 30,050 (-175) / SILVER: Rs 43,550 (-120)

Chennai

GOLD: Rs 29,750/ SILVER: Rs 43,260

Kolkata

GOLD: Rs 29,495/ SILVER: Rs 43,500

Bangalore

GOLD: Rs 30,032/ SILVER: Rs 43,900

Hyderabad

GOLD: Rs 30,000/ SILVER: Rs 44,400




First Published: Tuesday, December 24, 2013, 16:35


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