Gold prices on Wednesday: Complete roundup
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Gold prices on Wednesday: Complete roundup

Last Updated: Thursday, August 29, 2013, 12:30
 
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Gold prices on Wednesday: Complete roundup


Zee Media Bureau/Ajeet Kumar

After hitting their all-time high of Rs 35,074 in evening session of trade, gold prices finally settled lower by Rs 310 to Rs 33,405 per ten grams in futures trade Wednesday.

Continuous depreciation in rupee against dollar mainly supported prices in first half of trade but market participants trimmed their positions in post evening session of trade in line with downtrend in overseas market.

The rupee closed at 68.80 against US dollar after plunging to its record low of 68.85.

At the Multi Commodity Exchange (MCX), gold for delivery in October fell by Rs 310 to settle at Rs 33,405 per ten grams after hitting intra-day high of Rs 35,074. Yesterday closing level was at Rs 33,715.

Similarly, silver for delivery in September closed down by Rs 1,514 to Rs 55,776 after making a high of Rs 59,942 early.

Gold price in overseas markets, which normally set price trend on the domestic front, eased in later trade but was still holding near its highest since mid-May, as possible US military strikes against Syria stoked safe-haven buying of the metal.

In New York, gold for December delivery slipped by USD 1.40 or 0.1 percent to settle at USD 1,418.80 an ounce after a 2 percent rally a day earlier, on the Comex division of the NYMEX.

As per anlalyst, losses were modest in the wake of continued concerns about possible military action against Syria.

Meanwhile, surpassing all previous records, gold scaled to a new peak of Rs 34,500 per ten gram in Delhi bullion market.

However, late selling by stockists reduced the initial gains and the yellow metal closed with a biggest ever single-day gain of Rs 1,900 to Rs 33,900 per ten gram, surpassing the previous high of Rs 32,975 on November 27 last year.

Silver also registered a steepest rise of Rs 3,700 to Rs 58,500 per kg on increased offtake by industrial units and coin makers.

Mumbai

Standard gold of 99.5 percent purity strengthened by Rs 680 to close at Rs 33,265 per 10 gm from Tuesday's closing level of Rs 32,585.

Pure gold of 99.9 percent purity hardened by Rs 700 to finish at Rs 33,430 per 10 gm from Rs 32,730.

Silver ready (.999 fineness) spurted by a massive Rs 2,800 to end at Rs 59,470 per kg as against Rs 56,670 previously.

Delhi

Gold of 99.9 and 99.5 percent rallied by Rs 1900 each to Rs 33,900 and Rs 33,700 per ten grams respectively. Sovereign also shot up by Rs 300 to Rs 25,500 per piece of eight gram.

In a similar fashion, silver ready surged by Rs 3700 to Rs 58,500 per kg and weekly-based delivery by Rs 3900 to Rs 59,000 per kg. Silver coins too spurted by Rs 3000 to Rs 92,000 for buying and Rs 93,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in October fell by Rs 310 to settle at Rs 33,405 per ten grams after hitting intra-day high of Rs 35,074. Yesterday closing level was at Rs 33,715.

Similarly, silver for delivery in September closed down by Rs 1,514 to Rs 55,776 after making a high of Rs 59,942 early.

International markets

In New York, gold for December delivery slipped by USD 1.40 or 0.1 percent to settle at USD 1,418.80 an ounce after a 2 percent rally a day earlier, on the Comex division of the NYMEX.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.10 percent, or 0.90 tonnes, to 921.03 tonnes on Tuesday.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 33,430 (+700) / SILVER: Rs 59,470 (+2,800)

Delhi

GOLD: Rs 33,900 (+1,900) / SILVER: Rs 58,500 (+3,700)

Chennai

GOLD: Rs 31,780/ SILVER: Rs 60,155

Kolkata

GOLD: Rs ---- / SILVER: Rs -----

Bangalore

GOLD: Rs 34,456/ SILVER: Rs 58,700

Hyderabad

GOLD: Rs 32,500 / SILVER: Rs 56,500




First Published: Wednesday, August 28, 2013, 10:52


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