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

Last Updated: Tuesday, December 31, 2013, 15:09
 
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Gold price today: Latest updates

Zee Media Bureau/Ajeet Kumar

Gold prices extended their early recovery in evening session of trade and quoted higher by Rs 217 to Rs 28,671 per ten grams in futures trade Thursday as market participants enlarged their positions in tandem with a firming trend overseas.

Depreciation in rupee against US dollar also supported yellow metal prices. The rupee today dropped for the first time in four sessions and fell 37 paise to close at 62.16 against the dollar.

Read more on Gold 2014 Outlook

At the Multi Commodity Exchange (MCX), gold for delivery in February rose by Rs 217 to Rs 28,671 per ten grams after moving in range of Rs 28,455- Rs 28,691.

Similarly, silver for delivery in March gained by Rs 1,008 to Rs 45,000 per Kg.

Gold in overseas markets, which normally set price trend on the domestic front, moved up by nearly 1 percent today, 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 9.70 or 0.80 percent at USD 1,216 an ounce.

In New York, gold for February delivery traded up by USD 11 or 0.89 percent at USD 1,214 an ounce on the Comex division of the NYMEX.

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 dropped by Rs 275 to Rs 29,900 per ten grams at Delhi bullion market, the level last seen on August 14.

However, silver added Rs 310 to Rs 44,000 per kg on increased offtake by industrial units and coin makers.

In Mumbai, gold of 99.9 and 99.5 percent purity traded lower at Rs 29,940 and Rs 29,800 per ten grams, respectively, while silver enquired at Rs 44,440 per kg.

Delhi

Gold of 99.9 and 99.5 percent purity tumbled by Rs 275 each to Rs 29,900 and Rs 29,700 per ten grams, respectively. It had gained Rs 125 yesterday. Sovereign held steady at Rs 25,100 per piece of eight grams.

On the other hand, silver ready strengthened by Rs 310 to Rs 44,000 per kg and weekly-based delivery by Rs 130 to Rs 44,120 per kg. The white metal had gained Rs 140 in last trade.

Silver coins, however, held steady at Rs 84,000 for buying and Rs 85,000 for selling of 100 pieces.

International markets

Spot gold last traded up USD 9.70 or 0.80 percent at USD 1,216 an ounce.

In New York, gold for February delivery traded up by USD 11 or 0.89 percent at USD 1,214 an ounce on the Comex division of the NYMEX.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 8.40 tonnes to 805.72 tonnes on Monday, 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 29,940 / SILVER: Rs 44,440

Delhi

GOLD: Rs 29,900 (-275) / SILVER: Rs 44,000 (+310)

Chennai

GOLD: Rs 29,790/ SILVER: Rs 43,560

Kolkata

GOLD: Rs 29,595/ SILVER: Rs 43,700

Bangalore

GOLD: Rs 30,101/ SILVER: Rs 43,900

Hyderabad

GOLD: Rs 30,050/ SILVER: Rs 44,000



First Published: Thursday, December 26, 2013, 13:46


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