Zee Media Bureau/Ajeet Kumar
Retreating from their intra-day high of Rs 29,242 per ten grams, gold prices quoted lower by Rs 22 to Rs 28,946 per ten grams in futures trade Friday, even a firming trend overseas.
Appreciation in rupee against US dollar mainly weighed on prices as it determines the landed cost of the yellow metal.Read more on Gold 2014 Outlook
At the Multi Commodity Exchange (MCX), gold for delivery in February edged lower by Rs 22 to Rs 28,946 per ten grams after moving in range of Rs 28,833 - Rs 29242.
Similarly, silver for delivery in March declined by Rs 111 to Rs 45,237 per Kg.
Gold in overseas markets, which normally set price trend on the domestic front, hit a two-week high today.
Spot gold last traded up USD 10.70 or 0.87 percent at USD 1,234.70 an ounce after making an intra-day high of USD 1,239.80. Read more on Commodity Market 2014 Outlook
Meanwhile, gold prices maintained an upward march for the third consecutive day by rising Rs 290 to Rs 30,490 per ten grams at Delhi bullion market on sustained buying by stockists amid a firm global trend.
Silver also extended its gains by jumping Rs 750 to Rs 45,500 per kg on increased buying by jewellery fabricators and industrial units.Delhi
Gold of 99.9 and 99.5 percent purity surged by Rs 290 each to Rs 30,490 and Rs 30,290 per ten grams, respectively. It had gained Rs 400 in last two sessions. Sovereign remained stable at Rs 25,100 per piece of eight gram.
In a likewise manner, silver ready spurted by Rs 750 to Rs 45,500 per kg and weekly-based delivery by Rs 300 to Rs 45,480 per kg. The white metal had gained Rs 995 in previous two sessions.
However, silver coins held steady at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.International markets
Spot gold last traded up USD 10.70 or 0.87 percent at USD 1,234.70 an ounce after making an intra-day high of USD 1,239.80. Gold ETF
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.37 percent to 798.22 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 44,540 Delhi
GOLD: Rs 30,490 (+290) / SILVER: Rs 45,500 (+750)Chennai
GOLD: Rs 29,750/ SILVER: Rs 45,395Kolkata
GOLD: Rs 30,000/ SILVER: Rs 45,100Bangalore
GOLD: Rs 30,178/ SILVER: Rs 45,100Hyderabad
GOLD: Rs 30,100 / SILVER: Rs 45,000
First Published: Friday, January 03, 2014, 13:40