Gold rate today: Latest updates

Zee Media Bureau

Gold price moved ahead from its key Rs 28,000 per ten grams mark by adding Rs 100 in Delhi bullion market Saturday on sustained buying by stockists and retailers for the ongoing marriage season.

Gold of 99.9 and 99.5 percent purities advanced by Rs 100 each to Rs 28,100 and Rs 27,900 per ten grams respectively.

However, silver prices lacked demand support and declined by Rs 500 to Rs 46,900 per kg.

Meanwhile, gold prices moved up by Rs 137 in futures trade today as speculators enlarged their positions tracking physical demand in spot markets.

Silver prices also quoted higher by Rs 235 today on speculative buying, encouraged by heavy inindustrial demand.

At the Multi Commodity Exchange (MCX), metal for delivery in June contracts traded up by Rs 134 to Rs 27,189 per ten grams.

Similarly, silver for delivery in May contracts increased by Rs 238 to Rs 45,043 per Kg.

Gold prices in overseas markets, which normally set price trend on the domestic front, failed to maintain upward momentum on Friday amid choppy trade, but manged to post biggest weekly gain in three months after hitting a two-year low last week.

The yellow metal has recovered more than half of the loss of USD 225 per ouce incurred between April 12 and 16.

In New York, gold for June delivery lost by USD 8.40 to settle at USD 1,453.60 an ounce on the Comex division of the NYMEX late yesterday.

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.

Mumbai

Standard gold of 99.5 percent purity firmed up by Rs 80 to finish at Rs 27,380 per 10 gms from Friday's closing level of Rs 27,300.

Pure gold of 99.9 percent purity also rose by Rs 70 to conclude at Rs 27,510 per 10 gms from Rs 27,440.

Silver ready (.999 fineness) gained Rs 195 to close at Rs 46,630 per kg, as compared to Rs 46,435 yesterday.

Chennai

Standard gold price moved higher by Rs 65 to Rs 27,890 per ten grams as against its previous close of Rs 27,825.

Silver however, fell by Rs 535 to Rs 45,445 from Rs 45,990 per kg.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purities advanced by Rs 100 each to Rs 28,100 and Rs 27,900 per ten grams respectively. However, sovereigns met with resistance at existing higher levels and fell by Rs 150 to Rs 24,200 per piece of eight gram.

On the other hand, silver (ready) declined by Rs 500 to Rs 46,900 per kg and weekly-based delivery by Rs 100 to Rs 45,000 per kg. Silver coins continued to be asked at last level of Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), metal for delivery in June contracts traded up by Rs 134 to Rs 27,189 per ten grams.

Similarly, silver for delivery in May contracts increased by Rs 238 to Rs 45,043 per Kg.

International markets

In New York, gold for June delivery lost by USD 8.40 to settle at USD 1,453.60 an ounce on the Comex division of the NYMEX late yesterday.

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 0.25 percent to 1,090.27 tonnes on Thursday from 1,092.98 tonnes on Wednesday to their lowest since late 2009.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27,510 (+70)/ SILVER: Rs 46,630 (+195)

Delhi
GOLD: Rs 28,100 (+100), SILVER: Rs 46,900 (-500)

Chennai
GOLD: 27,890 (+65)/ SILVER: Rs 45,445 (-535)

Kolkata
GOLD: 28,435 (-165)/ SILVER: Rs 47,500 (-100)

Bangalore
GOLD: Rs 27,837 (+270) / SILVER: Rs 46,800 (+1,100)

Ahmedabad
GOLD: Rs 27,350 / SILVER: Rs 45,675

With Agency Inputs