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

Last Updated: Monday, January 13, 2014, 12:30
 
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Gold price today: Latest updates



Zee Media Bureau/Ajeet Kumar

After making their intra-day low of Rs 28,671 per ten grams, gold prices managed to remain range-bound in futures trade Wednesday even a weakening trend overseas.

Read more on Gold 2014 Outlook

At the Multi Commodity Exchange (MCX), gold for delivery in February inched lower by Rs 4 to settle at Rs 28,830 per ten grams after moving in range of Rs 28,671 - Rs 28,878.

However, silver for delivery in March fell further by Rs 516 to Rs 44,526 per Kg.

Gold in overseas markets, which normally set price trend on the domestic front, declined for a second straight session.

Sentiment was dampened by upbeat US private-sector jobs data and minutes from the Federal Reserve`s December meeting that showed the central bank was set to wind down its bond purchases at a steady pace.

Spot gold last traded down USD 5.90 or 0.48 percent at USD 1,226.90 an ounce after making a low and high of USD 1,217.90 and USD 1,232.90 respectively in intra-day trade.

In New York, gold for February delivery declined by USD 4.10 or 0.3 percent to settle at USD 1,225.50 an ounce on the Comex division of the NYMEX.

Read more on Commodity Market 2014 Outlook

Meanwhile, gold prices dropped by Rs 160 to Rs 30,000 per ten grams at Delhi bullion market on sustained selling by stockists against sluggish demand amid a weak global trend.

Silver also plunged by Rs 1,050 to Rs 44,300 per kg on reduced offtake by industrial units, particularly coin makers, amid weak global cues.

In Mumbai, gold of 99.9 and 99.5 percent purity traded at Rs 29,850 and Rs 29,700 per ten grams, respectively, while silver enquired at Rs 45,000 per kg.

Delhi

Gold of 99.9 and 99.5 percent purity fell further by Rs 160 each to Rs 30,000 and Rs 29,800 per ten grams, respectively. Sovereign declined by Rs 100 to Rs 25,000 per piece of eight gram.

Silver ready dropped by Rs 1,050 to Rs 44,300 per kg and weekly-based delivery by Rs 1,200 to Rs 44,300 per kg.

Silver coins, however, held steady at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

International markets

Spot gold last traded down USD 5.90 or 0.48 percent at USD 1,226.90 an ounce after making a low and high of USD 1,217.90 and USD 1,232.90 respectively in intra-day trade.

In New York, gold for February delivery declined by USD 4.10 or 0.3 percent to settle at USD 1,225.50 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 1.50 tonnes to 793.12 tonnes on Wednesday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: Rs 29,850 / SILVER: Rs 45,000

Delhi

GOLD: Rs 30,000 (-160)/ SILVER: Rs 44,300 (-1,050)

Chennai

GOLD: Rs 29,660/ SILVER: Rs 43,815

Kolkata

GOLD: Rs 29,620/ SILVER: Rs 43,700

Bangalore

GOLD: Rs 29,922/ SILVER: Rs 44,300

Hyderabad

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




First Published: Thursday, January 09, 2014, 04:41


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