Zee Media Bureau/Ajeet Kumar
Gold prices moved higher by Rs 229 to Rs 29,750 per ten grams in futures trade Wednesday as market participants enlarged their positions 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 229 to Rs 29,750 per ten grams after moving in range of Rs 29,346 - Rs 29,840.
Similarly, silver for delivery in March gained by Rs 434 to Rs 44,603 per Kg.
Gold in overseas markets, which normally set price trend on the domestic front, climbed by nearly 1 percent today, ahead of the US Federal Reserve`s statement on the outlook for its bond-buying stimulus.
Spot gold last traded up 8.50 or 0.68 percent at USD 1,265.20 an ounce after making a high and low of USD 1,270.20 and USD 1,252.40 respectively in intra-day trade.Read more on Commodity Market 2014 Outlook
Meanwhile, gold prices declined by Rs 140 to Rs 30,360 per ten grams at Delhi bullion market on sustained selling amid a weakening global trend.
Silver also plunged by Rs 800 to Rs 44,200 per kg on poor offtake by industrial units and coin makers.
In Mumbai, gold of 99.9 and 99.5 percent purity fell by Rs 70 and Rs 75 to Rs 30,080 and Rs 29,925 per ten gram, respectively, while silver tumbled by Rs 850 to Rs 44,900 per kg on sustained stockists selling.Delhi
Gold of 99.9 and 99.5 percent purity surrendered further by Rs 140 each to Rs 30,360 and Rs 30,160 per ten gram, respectively. It had lost Rs 70 yesterday.
Sovereign, however, remained in some demand and advanced by Rs 50 to Rs 25,250 per piece of eight gram.
In a similar fashion, silver ready dropped further by Rs 800 to Rs 44,200 per kg and weekly-based delivery by the same margin to Rs 44,100 per kg. The white metal had shed Rs 75 in the previous session.
Silver coins too plunged by Rs 1,000 to Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.International markets
Spot gold last traded up 8.50 or 0.68 percent at USD 1,265.20 an ounce after making a high and low of USD 1,270.20 and USD 1,252.40 respectively in intra-day trade.Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)Mumbai
GOLD: Rs 30,080 (-70) / SILVER: Rs 44,900 (-850)Delhi
GOLD: Rs 30,360 (-140) / SILVER: Rs 44,200 (-800)Chennai
GOLD: Rs 29,930/ SILVER: Rs 44,190Kolkata
GOLD: Rs 29,950/ SILVER: Rs 44,100Bangalore
GOLD: Rs 30,339/ SILVER: Rs 44,900Hyderabad
GOLD: Rs 30,300 / SILVER: Rs 45,600
First Published: Wednesday, January 29, 2014, 21:49