Zee Media Bureau
Gold prices extended their yesterday's gains at the Mumbai bullion market Friday on continued buying by stockists, traders as well as local buying interest amidst marriage season off-take.
Pure gold of 99.9 percent purity gained by Rs 335 to finish at Rs 26,395 per 10 grams from Rs 26,060 yesterday.
Silver also followed the yellow metal and posted modest gains owing to higher speculative off-take. Silver ready (.999 fineness) climbed up by Rs 90 to conclude at Rs 46,125 per kg from Rs 46,035 previously.
Gold prices in futures trade also surged by over Rs 300 to regain Rs 26,000-level.
Gold in overseas markets, which normally set price trend on the domestic front, rose 2.6 percent to USD 1,426.05 an ounce in London.
Gold price rose by Rs 185 to Rs 26,370 per ten grams in Chennai bullion market. However, Silver here fell by Rs 190 to Rs 44,915 per kg.
Standard gold of 99.5 percent purity surged by Rs 340 to end at Rs 26,260 per 10 gm from Thursday's closing level of Rs 25,920.
Pure gold of 99.9 percent purity rose by Rs 335 to conclude at Rs 26,395 per 10 grams from Rs 26,060 previously.
Silver ready (.999 fineness) added Rs 90 to finish at Rs 46,125 per kg from Rs 46,035 yesterday.
Snapping a four-day losing streak, gold of 99.9 and 99.5 percent purity recovered by Rs 250 each to Rs 26,600 and Rs 26,400 per ten grams after losing Rs 3,250 in last four sessions. Sovereign remained steady at Rs 24,000 per piece of eight gram in limited deals.
On the other hand, silver ready continued its slide for the fifth day and lost another Rs 300 to Rs 45,400 per kg and weekly-based delivery by Rs 60 to Rs 43,400 per kg. The white metal had lost Rs 6,900 in the previous four sessions.
Silver coins held steady at Rs 74,000 for buying and Rs 75,000 for selling in restricted buying.
Futures trade (MCX)
At the Multi Commodity Exchange MCX), gold for delivery in June rose by Rs 286 to Rs 25,986 per 10 grams. Silver for delivery in May also moved higher by Rs 450 to Rs 43,728 per kg.
Spot gold was up 2.6 percent at USD 1,426.05 per ounce in London after falling nearly 3 percent in Asian trade on Thursday and from its lowest in more than two years of USD 1,321.35, touched on Tuesday.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per 1000 gm)
GOLD: Rs 26,395 (+335), SILVER: Rs 46,125 (+90)
GOLD: Rs 26,600, SILVER: Rs 45,400
GOLD: 26,370 (+185)/ SILVER: Rs 44,915(-190)
GOLD: 27,385 (+685)/ SILVER: Rs 46,500 (+400)
GOLD: Rs 26,748 (+60)/ SILVER: Rs 45,400 (+100)
GOLD: Rs 25,525/ SILVER: 44,000
With Agency Inputs