Zee Media Bureau/Ajeet Kumar
Gold prices extended their yesterday's gains and quoted higher by Rs 230 to Rs 29,585 per ten grams in futures trade Friday as the market participants enlarged their positions, moving in tandem with a firming trend overseas. Read more on Gold 2014 Outlook
At the Multi Commodity Exchange (MCX), gold for delivery in April rose by Rs 230 to Rs 29,585 per ten grams after moving in range of Rs 29,252 - Rs 29,675.
Similarly, silver for delivery in March climbed by Rs 530 to Rs 45,440 per Kg.
Gold in overseas markets, which normally set price trend on the domestic front, moved ahead from its yesterday's gains and hit its highest level in two months today.
Spot gold last traded up USD 3 or 0.24 percent at USD 1,268.60 an ounce after making a high and low of USD 1,274 and USD 1,256.40 respectively in intra-day trade.
Gold is on track to record a fifth consecutive weekly gain for the first time since September 2012.Read more on Commodity Market 2014 Outlook
Meanwhile, gold prices gained by Rs 200 to Rs 30,370 per ten grams at Delhi bullion market on brisk buying by stockists for the marriage season amid a firm global trend.
Silver prices also jumped by Rs 500 to Rs 45,000 per kg on increased offtake by jewellery fabricators and industrial units.
In Mumbai, gold of 99.9 and 99.5 percent purity recovered Rs 125 each to Rs 30,050 and Rs 29,900 per ten gram, respectively, while silver shot up by Rs 600 to Rs 45,850 per kg.Delhi
Gold of 99.9 and 99.5 percent purity zoomed up by Rs 200 each to 30,370 and Rs 30,170 per ten grams, respectively. Sovereign remained steady at Rs 25,100 per piece of eight gram.
In a similar fashion, silver ready spurted by Rs 500 to Rs 45,000 per kg and weekly-based delivery by Rs 700 to Rs 44,950 per kg. Silver coins continued to be asked at last level of Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.International markets
Spot gold last traded up USD 3 or 0.24 percent at USD 1,268.60 an ounce after making a high and low of USD 1,274 and USD 1,256.40 respectively in intra-day trade.Gold ETF
Holdings in SPDR Gold Trust, the largest gold-backed exchange-traded fund, fell 5.4 tonnes on Thursday. Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)Mumbai
GOLD: Rs 30,050 (+125) / SILVER: Rs 45,850 (+600)Delhi
GOLD: Rs 30,370 (+200)/ SILVER: Rs 45,000 (+500)Chennai
GOLD: Rs 29,870/ SILVER: Rs 44,310Kolkata
GOLD: Rs 29,750/ SILVER: Rs 44,900Bangalore
GOLD: Rs 30,349/ SILVER: Rs 45,500Hyderabad
GOLD: Rs 30,150 / SILVER: Rs 45,200
First Published: Friday, January 24, 2014, 21:26