Gold rate today: Latest updates
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Gold rate today: Latest updates

Last Updated: Thursday, April 25, 2013, 08:55
 
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Gold rate today: Latest updates

Zee Media Bureau

Recovering from their overnight's loss, gold prices in futures trade moved higher by Rs 224 Wednesday on emergence of speculative buying, supported by uptrend in international markets and heavy physical demand.

At the Multi Commodity Exchange (MCX), metal for delivery in June contracts rose by Rs 224 to trade higher at Rs 26,388 per ten grams.

Similarly, Silver for delivery in May contracts increased by Rs 78 to Rs 42,892 per Kg.

Gold prices fell by up to Rs 60 at the Mumbai bullion market today following reduced demand from traders and jewellers. Silver also fell by Rs 550 to Rs 44,600 per kg.

Standard gold of 99.5 percent purity and pure gold of 99.9 percent purity both traded down by Rs 60 and Rs 55 at Rs 26,570 and Rs 26,710 per ten grams, respectively.

Gold in overseas markets, which normally set price trend on the domestic front, rebounded by USD
15.90 or 1.12 percent to USD 1,429.50 per ounce.

Apart from speculative buying, gold price in international markets also got support from weak German economic data, which fanned speculation the European Central Bank could cut interest rates.

But strong US dollar coupled with firming equities and continuous decline in holdings by exchange-traded funds looks set to cap prices.

In global markets gold prices sank to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity advanced by Rs 200 each to Rs 27,600 and Rs 27,400 per 10 grams, respectively. It had gained Rs 1,050 in last three sessions.

Sovereign, however, held steady at Rs 24,100 per piece of eight gram in scattered deals.

On the other hand, silver ready dropped by Rs 800 to Rs 45,000 per kg and weekly-based delivery by Rs 1020 per kg. The white metal had gained Rs 500 yesterday.

Silver coins also plunged by Rs 1,000 to Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity and pure gold of 99.9 percent purity both traded down by Rs 60 and Rs 55 at Rs 26,570 and Rs 26,710 per ten grams, respectively.

Silver ready (.999 fineness) declined by Rs 550 to Rs 44.600 per kg from Tuesday''s closing level of Rs 45,150.

Chennai

Standard gold price moved higher by Rs 90 to Rs 27,050 per ten grams as against its previous close of Rs 26,960. Silver however, slipped by Rs 800 to Rs 44,050 from Rs 44,850 per kg.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), metal for delivery in June contracts rose by Rs 224 to trade higher at Rs 26,388 per ten grams.

Similarly, Silver for delivery in May contracts increased by Rs 78 to Rs 42,892 per Kg.

International markets

Gold in overseas markets, which normally set price trend on the domestic front, rebounded by USD
15.90 or 1.12 percent to USD 1,429.50 per ounce.

In international markets gold prices sank to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.68 percent to 1,097.19 tonnes on Tuesday from 1,104.71 tonnes on Monday. The current holdings are at multi-year low.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 26,710 (-55)/ SILVER: Rs 44,600 (-550)

Delhi
GOLD: Rs 27,600 (+200), SILVER: Rs 45,000 (-800)

Chennai
GOLD: 27,125 (+90)/ SILVER: Rs 44,050 (-800)

Kolkata
GOLD: 28,430 (+280)/ SILVER: Rs 46,050 (+550)

Bangalore
GOLD: Rs 27,091 (-7) / SILVER: Rs 45,700 (+100)

Ahmedabad
GOLD: Rs 26,270 / SILVER: 44,200

Hyderabad
GOLD: Rs 28,800 (+1000) / SILVER: 49,000 (unchanged)

With Agency Inputs




First Published: Wednesday, April 24, 2013, 09:42


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