Gold prices this week: Complete roundup
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Gold prices this week: Complete roundup

Last Updated: Tuesday, December 31, 2013, 15:09
 
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Gold prices this week: Complete roundup


Zee Media Bureau/Ajeet Kumar

Paring most part of their intraday losses, gold prices finally ended the week at Rs 28,564 per ten grams in futures trade Friday.

Recovery in gold witnessed as some of the market participants enlarged their positions in tandem with a firming trend overseas.

Appreciation in rupee against US dollar, however, limited the recovery as it determines the landed cost of the yellow metal.

Read more on Gold 2014 Outlook

At the Multi Commodity Exchange (MCX), gold for delivery in February edged lower by Rs 12 to settle at Rs 28,564 per ten grams after moving in range of Rs 28,250- Rs 28,640.

However, silver for delivery in March gained by Rs 378 to Rs 45,154 per Kg.

Gold in overseas markets, which normally set price trend on the domestic front, moved up marginally, but it is down nearly 28 percent for the year, and is headed for its worst annual fall in 32 years.

Spot gold last traded up USD 2.60 or 0.21 percent at USD 1,214.80 an ounce.

In New York, gold for February delivery traded higher by USD 1.70 or 0.1 percent to settle at USD 1,214 an ounce on the Comex division of the NYMEX. For the week, gold rose 0.9 percent.

The yellow metal plunged to a six-month low of USD 1,185.10 last week after the Fed announced it would begin tapering its USD 85 billion in monthly bond purchases from next month, before recovering slightly on short-covering.

Meanwhile, gold prices recovered by Rs 100 to Rs 30,000 per ten grams at Delhi bullion market on fresh buying by stockists amid a firm global trend.

Silver also gained for the third straight session by surging Rs 750 to Rs 44,750 per kg on increased offtake by industrial units and coin makers.

In Mumbai, gold of 99.9 and 99.5 percent purity fell by Rs 160 and Rs 170 to Rs 29,780 and Rs 29,630 per ten grams, respectively; while silver gained Rs 60 to Rs 44,500 per kg.

Delhi

Gold of 99.9 and 99.5 percent purity rebounded by Rs 100 each to Rs 30,000 and Rs 29,800 per ten grams, respectively. It had lost Rs 275 yesterday. Sovereign remained steady at Rs 25,100 per piece of eight gram in limited deals.

Silver ready surged by Rs 750 to Rs 44,750 per kg and weekly-based delivery by Rs 710 to Rs 44,830 per kg. The white metal had gained Rs 450 in the previous two sessions.

Silver coins also spurted by Rs 1,000 to Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

International markets

Spot gold last traded up USD 2.60 or 0.21 percent at USD 1,214.80 an ounce.

In New York, gold for February delivery traded higher by USD 1.70 or 0.1 percent to settle at USD 1,214 an ounce on the Comex division of the NYMEX. For the week, gold rose 0.9 percent.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.19 tonnes to 804.22 tonnes on Thursday, the lowest in nearly five years.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: Rs 29,780 (-160) / SILVER: Rs 44,500 ( +60)

Delhi

GOLD: Rs 30,000 (+100) / SILVER: Rs 44,750 (+750)

Chennai

GOLD: Rs 29,750/ SILVER: Rs 44,345

Kolkata

GOLD: Rs 29,545/ SILVER: Rs 44,350

Bangalore

GOLD: Rs 30,025/ SILVER: Rs 44,800

Hyderabad

GOLD: Rs 30,000/ SILVER: Rs 44,500



First Published: Saturday, December 28, 2013, 10:54


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