Zee Media Bureau/Ajeet Kumar
Gold prices managed to regain their Rs 29,000 level by rising Rs 51 to Rs 29,070 per ten grams in futures trade Thursday as some of the market participants enlarged their positions even a range-bound trend overseas. Read more on Gold 2014 Outlook
At the Multi Commodity Exchange (MCX), gold for delivery in April edged up by Rs 51 to Rs 29,070 per ten grams after moving in range of Rs 28,953 - Rs 29,095.
However, silver for delivery in March declined by Rs 95 to Rs 44,690 per Kg.
Gold in overseas markets, which normally set price trend on the domestic front, remained range-bound today.
Spot gold last traded down USD 0.20 or 0.02 percent at USD 1,242.80 an ounce after making a high and low of USD 1,246.40 and USD 1,235.90 respectively in intra-day trade.Read more on Commodity Market 2014 Outlook
Meanwhile, gold prices recovered by Rs 15 to Rs 30,050 per ten grams at Delhi bullion market on low level buying by retailers for the marriage season despite weak global trend.
Silver followed suit and rebounded by Rs 100 to Rs 44,800 per kg on increased offtake by jewellery fabricators and industrial units.
In Mumbai, gold of 99.9 and 99.5 percent purity traded higher by Rs 20 each to Rs 29,935 and Rs 29,785 per ten grams, respectively, while silver lost Rs 50 at Rs 45,400 per kg.Delhi
Gold of 99.9 and 99.5 percent purity recovered by Rs 15 each to Rs 30,050 and Rs 29,850 per ten gram, respectively. It had lost Rs 365 yesterday. Sovereign held steady at Rs 25,000 per piece of eight gram.
In line with a general firm trend, silver ready rose by Rs 100 to Rs 44,800 per kg and weekly-based delivery by Rs 130 to Rs 44,800 per kg, respectively. The white metal had lost Rs 420 in the previous session.
Silver coins, however, remained steady at Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.International markets
Spot gold last traded down USD 0.20 or 0.02 percent at USD 1,242.80 an ounce after making a high and low of USD 1,246.40 and USD 1,235.90 respectively in intra-day trade.Gold ETF
SPDR Gold Trust, the world`s largest gold-backed exchange-traded fund, said its holdings fell 3.56 tonnes to a five-year low of 789.56 tonnes on Tuesday.Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)Mumbai
GOLD: Rs 29,935 (+20) / SILVER: Rs 45,400 (-50)Delhi
GOLD: Rs 30,050 (+15)/ SILVER: Rs 44,800 (+100)Chennai
GOLD: Rs 29,465/ SILVER: Rs 44,530Kolkata
GOLD: Rs 29,720/ SILVER: Rs 44,300Bangalore
GOLD: Rs 30,006/ SILVER: Rs 44,900Hyderabad
GOLD: Rs ---- / SILVER: Rs ----
First Published: Thursday, January 16, 2014, 20:44