Zee Media Bureau/Ajeet Kumar
Gold prices ended the week just above Rs 28,500 per ten grams level in futures trade 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 settled lower by Rs 84 to Rs 28,505 per ten grams.
Gold in overseas markets, which normally set price trend on the domestic front, closed the week at a 2-week low on Thursday.
In New York, gold for June delivery traded up by USD 9.60 or 0.7 percent to settle at USD 1,293.90 an ounce on the Comex division of the NYMEX.
The yellow metal ended the week with a loss of 1.9 percent.
Meanwhile, gold prices recovered by Rs 20 to Rs 30,250 per ten gram at Delhi bullion market on scattered buying by retailers for the marriage season.
Silver also rebounded by Rs 400 to Rs 43,400 per kg on increased offtake by industrial units and coin makers.Delhi
Gold of 99.9 and 99.5 percent purity recovered by Rs 20 each to Rs 30,250 and Rs 30,050 per ten gram respectively, while sovereign held steady at Rs 25,000 per piece of eight gram.
Silver ready also rebounded by Rs 400 to Rs 43,400 per kg while weekly-based delivery held steady at Rs 42,375 per kg.
On the other hand, silver coins remained stable at Rs 82,000 for buying and Rs 83,000 for selling of 100 pieces. International markets
In New York, gold for June delivery traded up by USD 9.60 or 0.7 percent to settle at USD 1,293.90 an ounce on the Comex division of the NYMEX. Gold ETF
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 8.39 tonnes to 798.43 tonnes on Wednesday- the biggest outflow since Dec. 23, reversing gains in the previous two sessions. Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)Mumbai
GOLD: Rs 29,502 / SILVER: Rs 42,833Delhi
GOLD: Rs 30,250 / SILVER: Rs 43,400 Chennai
GOLD: Rs 29,970/ SILVER: Rs 42,715Kolkata
GOLD: Rs 29,950/ SILVER: Rs 42,700Bangalore
GOLD: Rs 30,049/ SILVER: Rs 43,300Hyderabad
GOLD: Rs 30,100 / SILVER: Rs 44,000
First Published: Saturday, April 19, 2014, 12:20