Gold price today: Latest updates
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Gold price today: Latest updates

Last Updated: Tuesday, May 28, 2013, 12:56
 
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Gold price today: Latest updates


Zee Media Bureau

Gold prices managed to snap their three-day losing streak by recovering Rs 100 to regain Rs 27,000 per ten grams-level in Delhi bullion market Saturday on scattered buying by retailers at prevailing lower levels.

Gold of 99.9 and 99.5 percent purity gained by Rs 100 each to Rs 27,050 and Rs 26,850 per 10 grams, respectively

Silver also advanced by Rs 200 to Rs 44,300 per kg on increased offtake by industrial units.

Marketmen said scattered buying by retailers at attractive lower levels mainly led to recovery in gold prices.

Increased offtake by industrial units kept silver prices higher for the second day, they said.

Meanwhile, gold prices in futures trade pared most of the losses in evening session of trade Friday but failed to end the day at positive note by closing down Rs 34 at Rs 26,406 per ten grams as market players continued to exit their positions, moving in tandem with a weak global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in June moved lower by Rs 34 to settle at Rs 26,406 per ten grams as against its previous close of Rs 26,440.

Similarly, silver for delivery in July dropped by Rs 98 to Rs 43,473 per kg compared to Rs 43,571 on Thursday.

Gold prices in overseas markets, which normally set price trend on the domestic front, turned modestly lower as some players exited positions ahead of a long US weekend, but registered its biggest weekly percentage gain in a month, supported by a drop in stock markets and a softer dollar.

Comments from a Federal Reserve official that dampened talk the US central bank is set to curb monetary stimulus also underpinned gold prices, which stuck to a fairly tight range.

Spot gold last traded down 0.23 percent at USD 1,387.51 an ounce, holding near a two-year low of USD 1,321.35 reached in April. It remained up 2.15 percent on the week, its biggest weekly rise since late April.

In New York, gold for June delivery moved lower by USD 5.2 or 0.37 percent to settle at USD 1,386.6 an ounce on the Comex division of the NYMEX yesterday.

Gold for August delivery fell USD 5.30, or 0.4 percent, to settle at USD 1,387.50 an ounce.

Both active contracts closed around 1.6 percent higher compared to the week-ago close of USD 1,364.70 for the June contract.

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.

Chennai

Standard gold price edged higher by Rs 30 to Rs 26,765 per ten grams as against its previous close of Rs 26,735.

However, silver edged lower by Rs 30 to Rs 43,465 per kg from Rs 43,495.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity recovered by Rs 100 each to Rs 27,050 and Rs 26,850 per 10 grams, respectively.

It had lost Rs 100 in last three sessions. Sovereigns continued to be asked around previous level of Rs 23,700 per piece of eight grams.

In line with a general trend, silver ready advanced by Rs 200 to Rs 44,300 per kg and weekly-based delivery by Rs 150 to Rs 43,475 per kg. The white metal had gained Rs 100 yesterday.

Silver coins remained stable at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity edged higher by Rs 55 to end at Rs 26,525 per 10 gm from Friday's closing level of Rs 26,470.

Pure gold of 99.9 percent purity moved up by Rs 30 to finish at Rs 26,655 per 10 gm from Rs 26,625.

Silver ready (.999 fineness) strengthened by Rs 115 to conclude at Rs 44,700 per kg as against Rs 44,585 yesterday.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June moved lower by Rs 34 to settle at Rs 26,406 per ten grams as against its previous close of Rs 26,440.

Similarly, silver for delivery in July dropped by Rs 98 to Rs 43,473 per kg compared to Rs 43,571 on Thursday.

International markets

Spot gold last traded down 0.23 percent at USD 1,387.51 an ounce, holding near a two-year low of USD 1,321.35 reached in April. It remained up 2.15 percent on the week, its biggest weekly rise since late April.

In New York, gold for June delivery moved lower by USD 5.2 or 0.37 percent to settle at USD 1,386.6 an ounce on the Comex division of the NYMEX yesterday.

Gold for August delivery fell USD 5.30, or 0.4 percent, to settle at USD 1,387.50 an ounce.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.15 percent to four-year lows of 1018.57 tonnes on Thursday.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 26,655 (+30) / SILVER: Rs 44,700 (+115)

Delhi
GOLD: Rs 27,050 (+100) / SILVER: Rs 44,300 (+200)

Chennai
GOLD: 26,765 (+30) / SILVER: Rs 43,465 (-30)

Kolkata
GOLD: Rs 27,050 (+100) / SILVER: Rs 44,100 (+150)

Bangalore
GOLD: Rs 26,886 / SILVER: Rs 44,300

Hyderabad
GOLD: Rs 27,200 / SILVER: Rs 47,000

With Agency Inputs



First Published: Saturday, May 25, 2013, 09:20


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