Gold prices on Friday: Complete roundup
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Gold prices on Friday: Complete roundup

Last Updated: Saturday, August 17, 2013, 11:47
 
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Gold prices on Friday: Complete roundup


Zee Media Bureau/Ajeet Kumar

Gold prices extended their early gains in second half of trade Friday and settled higher by Rs 1,569 to Rs 30,755 per ten grams in futures trade as market participants enlarged their positions in tandem with a firming trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in October zoomed by Rs 1,569 to Rs 30,755 per ten grams.

Similarly, silver for delivery in September spurted by Rs 4,314 to Rs 50,887 per kg.

Gold price in overseas markets, which normally set price trend on the domestic front, extended its yesterday's gains by nearly 1 percent to a fresh two-month high.

The yellow metal posted its biggest weekly gain in five weeks as disappointing US data dimmed hopes for a swift economic recovery.

Gold's appeal as an investment hedge increased after US economic reports on Friday showed weaker consumer confidence in August and lower-than-expected residential construction last month.

Spot gold last traded up 0.9 percent at USD 1,377.60 an ounce by, having set a two-month high of
USD 1,379.60.

In New York, gold for December delivery gained further by USD 10.10 or 0.7 percent to settle at USD 1,371 an ounce on the Comex division of the NYMEX. That was the highest close for a most-active contract since June 19.

Gold futures saw a weekly rise of 4.5 percent, the strongest gain since the week ending July 12,

In Delhi spot market, gold surged by Rs 1,310 per 10 gram here, the highest in two years, to Rs 31,010 on strong demand from stockists ahead of festive season, after government increased import duty on the metal to 10 percent.

Gold has regained Rs 31,000 level after a gap of six months. An all-time high was Rs 32,975 per 10 gram on November 27, 2012, in Delhi bullion market.

Silver followed suit and spurted by Rs 3,270 to Rs 49,320 per kg, its biggest single day gain this year on rising demand from industrial units and coin makers.

Mumbai

Standard gold of 99.5 percent purity strengthened by Rs 1,175 to end at Rs 30,695 from Wednesday's closing level of of Rs 29,520 per 10 gm.

Pure gold of 99.9 percent purity hardened by Rs 1,155 to finish at Rs 30,830 per 10 gm from Rs 29,675.

Silver ready (.999 fineness) shot-up by a hefty Rs 2,970 to conclude at Rs 49,980 per kg from Rs 47,010 previously.

Chennai

Standard gold prices moved higher by Rs 1,115 to Rs 30,810 per ten grams as against its previous close of Rs 29,695.

Similarly, silver prices zoomed further by Rs 3,530 to Rs 50,830 per kg.

Delhi

In the national capital, gold of 99.9 and 99.5 per cent purity spurted by Rs 1310 each to Rs 31,010 and Rs 30,810 per ten grams respectively.

Sovereign followed suit and climbed by Rs 200 to Rs 24,700 per piece of eight gram.

Silver ready sky-rocketed by Rs 3270 to Rs 49,320 per kg and weekly-based delivery by the same margin to Rs 49,220 per kg.

Silver coins flared up by Rs 2000 to Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October zoomed by Rs 1,569 to Rs 30,755 per ten grams.

Similarly, silver for delivery in September spurted by Rs 4,314 to Rs 50,887 per kg.

International markets

Spot gold last traded up 0.9 percent at USD 1,377.60 an ounce by, having set a two-month high of
USD 1,379.60.

In New York, gold for December delivery gained further by USD 10.10 or 0.7 percent to settle at USD 1,371 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 0.03 percent to 912.92 tonnes on Thursday. It had, however, seen gains on Wednesday, only the second increase in two months.

Here are the city wise gold and silver rates:

(Gold rates per 10 gm/Silver rates per Kg)

Mumbai

GOLD: 30,830 (+1,155) / SILVER: Rs 49,980 (+2,970)

Delhi

GOLD: Rs 31,010 (+1,310) / SILVER: Rs 49,320 (+3,270)

Chennai

GOLD: Rs 30,810 (+1,115) / SILVER: Rs 50,830 (+3,530)

Kolkata

GOLD: Rs 31,160 / SILVER: Rs 49,500

Bangalore

GOLD: Rs 31,078/ SILVER: Rs 46,800

Hyderabad

GOLD: Rs 31,500 / SILVER: Rs 51,000




First Published: Friday, August 16, 2013, 14:38


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