Zee Media Bureau/Ajeet Kumar
Gold prices dipped below Rs 30,000 level by falling Rs 174 to Rs 29,984 per ten grams in futures trade Thursday as market participants offloaded their positions in tandem with a weakening trend overseas.Read more on Gold Outlook
At the Multi Commodity Exchange (MCX), gold for delivery in April dropped by Rs 174 to Rs 29,984 per ten grams after moving in range of Rs 29,925 - Rs 30,125.
Similarly, silver for delivery in March declined by Rs 421 to Rs 46,136 per Kg.
Gold in overseas markets, which normally set price trend on the domestic front, edged down today.
Investors are now awaiting further cues from developments in Ukraine and US nonfarm payroll figures.
Spot gold last quoted down USD 2.90 or 0.22 percent at USD 1,335.20 per ounce.
Meanwhile, gold prices dropped below Rs 31,000 by falling Rs 280 to Rs 30,820 per ten gram at Delhi bullion market on heavy selling by stockists influenced by a weak global trend.
Silver also dropped by Rs 350 to Rs 47,050 per kg on poor offtake by industrial units and coin makers.Delhi
Gold of 99.9 and 99.5 percent purity tumbled by Rs 280 each to Rs 30,820 and Rs 30,620 per ten gram respectively. The yellow metal had lost Rs 200 in last two trading sessions. Sovereign followed suit and shed Rs 50 to Rs 25,400 per piece of eight gram.
In a similar fashion, silver ready dropped by Rs 350 to Rs 47,050 per kg and weekly-based delivery by Rs 550 to Rs 46,850 per kg, while silver coins held steady at Rs 87,000 for buying and Rs 88,000 for selling of 100 pieces. International markets
Spot gold last quoted down USD 2.90 or 0.22 percent at USD 1,335.20 per ounceHere are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)Mumbai
GOLD: Rs 30,420 (-8) / SILVER: Rs 46,950 (-10)Delhi
GOLD: Rs 30,820 (-280) / SILVER: Rs 47,050 (-350)Chennai
GOLD: Rs 30,400/ SILVER: Rs 46,665Kolkata
GOLD: Rs 30,710/ SILVER: Rs 46,500Bangalore
GOLD: Rs 30,857/ SILVER: Rs 46,900Hyderabad
GOLD: Rs 31,200 / SILVER: Rs 47,800
First Published: Thursday, March 6, 2014, 16:13