Zee Media Bureau/Ajeet Kumar
Gold prices slipped by Rs 58 to Rs 28,692 per ten grams in futures trade Wednesday as market participants trimmed their positions in tandem with a weakening trend overseas.
Appreciation in rupee against dollar also weighed on bullion prices.Read more on Gold Outlook
At the Multi Commodity Exchange (MCX), gold for delivery in June edged lower by Rs 58 to Rs 28,692 per ten grams.
Gold in overseas markets, which normally set price trend on the domestic front, quoted down by USD 2.50 or 0.19 percent at USD 1,293.40 per ounce.
Investors are now awaiting the policy statement by the US Federal Reserve and US GDP and non-farm payrolls data.
Meanwhile, gold prices tumbled by Rs 200 to Rs 30,400 per 10 grams at Delhi bullion market on heavy selling by stockists, triggered by a weak global trend.
Silver also dropped by Rs 900 to Rs 42,500 per kg on poor offtake by industrial units and coin makers.Delhi
Gold of 99.9 and 99.5 percent purity tumbled by Rs 200 each to Rs 30,400 and Rs 30,200 per 10 grams, respectively. It had lost Rs 130 yesterday. Sovereign declined by Rs 100 to Rs 25,000 per piece of eight grams.
In line with a general weak trend, silver ready dropped by Rs 900 to Rs 42,500 per kg and weekly-based delivery by Rs 580 to Rs 41,700 per kg.
Silver coins also nosedived by Rs 2,000 to Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces. International markets
Gold in overseas markets, which normally set price trend on the domestic front, quoted down by USD 2.50 or 0.19 percent at USD 1,293.40 per ounce.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 30,400 / SILVER: Rs 42,500Chennai
GOLD: Rs 30,050/ SILVER: Rs 42,270Kolkata
GOLD: Rs 30,150/ SILVER: Rs 42,400Bangalore
GOLD: Rs 30,384/ SILVER: Rs 42,800Hyderabad
GOLD: Rs 30,100 / SILVER: Rs 44,000
First Published: Wednesday, April 30, 2014, 11:11