Zee Media Bureau/Ajeet Kumar
Gold prices slipped by Rs 61 to Rs 28,416 per ten grams in futures trade Wednesday as market participants trimmed their positions in tandem with a weakening trend overseas.Read more on Gold Outlook
At the Multi Commodity Exchange (MCX), gold for delivery in June moved lower by Rs 61 to Rs 28,416 per ten grams.
Gold in overseas markets, which normally set price trend on the domestic front, fell back towards USD 1,300 an ounce today ahead of the minutes of the US Federal Reserve's latest policy meeting
Spot gold last quoted down USD 3.90 or 0.30 percent at USD 1,305.10 per ounce after making a low and high of USD 1,300.40 - USD 1,315.30 per ounce earlier in intra-day trade.
Meanwhile, gold prices moved up by another Rs 220 to Rs 29,700 per ten gram at Delhi bullion market on increased buying by stockists and retailers amid firming global trend.
However, silver shed Rs 30 at Rs 43,600 per kg on lack of buying support from industrial units.Delhi
Gold of 99.9 and 99.5 percent purity shot up by Rs 220 each to Rs 29,700 and Rs 29,500 per ten gram respectively. It had gained Rs 245 in last two trade.
Sovereign followed suit and gained Rs 100 to Rs 24,900 per piece of eight gram.
On the other hand, silver ready declined by Rs 30 to Rs 43,600 per kg while weekly-based delivery rose by Rs 300 to Rs 43,230 per kg on speculators buying. Silver coins spurted by Rs 1,000 to Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces. International markets
Spot gold last quoted down USD 3.90 or 0.30 percent at USD 1,305.10 per ounce after making a low and high of USD 1,300.40 - USD 1,315.30 per ounce earlier in intra-day trade.Gold ETF
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 2.7 tonnes to 806.48 tonnes on Tuesday.Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)Mumbai
GOLD: Rs 28,765 / SILVER: Rs 42,909Delhi
GOLD: Rs 29,700 (+220) / SILVER: Rs 43,600 (-30)Chennai
GOLD: Rs 29,520/ SILVER: Rs 43,265Kolkata
GOLD: Rs 29,220/ SILVER: Rs 43,400Bangalore
GOLD: Rs 29,480/ SILVER: Rs 43,600Hyderabad
GOLD: Rs 29,600 / SILVER: Rs 44,500
First Published: Wednesday, April 09, 2014, 20:25