Zee Media Bureau/Ajeet Kumar
Gold prices continued their downtrend and quoted below Rs 29,000 per ten grams level in futures trade Thursday as market participants offloaded their positions even a firming trend overseas.Read more on Gold 2014 Outlook
At the Multi Commodity Exchange (MCX), gold for delivery in April declined by Rs 156 to Rs 29,875 per ten grams after moving in range of Rs 29,790 - Rs 29,980.
Similarly, silver for delivery in March moved lower by Rs 222 to Rs 47,565 per Kg.
Gold in overseas markets, which normally set price trend on the domestic front, recovered today after two-day fall.
Spot gold last quoted up USD 4.10 or 0.31 percent at USD 1,316 per ounce after making a low of USD 1,307 per ounce in intra-day trade.Read more on Commodity Market 2014 Outlook
Meanwhile, gold prices recovered by Rs 25 to Rs 31,250 per ten grams at Delhi bullion market following low level buying for the ongoing marriage season amid a firming global trend.
However, silver lost Rs 320 at Rs 47,500 per kg on lack of buying support from industrial units and coin makers.Delhi
Gold of 99.9 and 99.5 percent purity recovered by Rs 25 each to Rs 31,250 and Rs 31,050 per ten grams, respectively. It had lost Rs 225 in last two trading sessions.
Sovereign, however, held steady at Rs 25,500 per piece of eight grams.
On the other hand, silver ready fell by Rs 320 to Rs 47,500 per kg and weekly-based delivery by Rs 410 to Rs 47,210 per kg.
Silver coins continued to be asked around previous levels of Rs 88,000 for buying and Rs 89,000 for selling of 100 pieces.International markets
Spot gold last quoted up USD 4.10 or 0.31 percent at USD 1,316 per ounce after making a low of USD 1,307 per ounce 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 30,630 / SILVER: Rs 47,512Delhi
GOLD: Rs 31,250 / SILVER: Rs 47,500Chennai
GOLD: Rs 30,870/ SILVER: Rs 48,560Kolkata
GOLD: Rs 30,780/ SILVER: Rs 47,500Bangalore
GOLD: Rs 31,164/ SILVER: Rs 48,400Hyderabad
GOLD: Rs 31,000 / SILVER: Rs 48,500
First Published: Thursday, February 20, 2014, 21:38