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

Last Updated: Tuesday, January 07, 2014, 03:09
 
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Gold price today: Latest updates


Zee Media Bureau/Ajeet Kumar

Gold prices continued their downtrend on the last trading day of 2013 and quoted lower by Rs 101 to Rs 28,258 per ten grams in futures trade Tuesday as market participants offloaded their positions even a range-bound trend overseas.

Appreciation in rupee against US dollar mainly weighed on prices as it determines the landed cost of the yellow metal.

Read more on Gold 2014 Outlook

At the Multi Commodity Exchange (MCX), gold for delivery in February dropped further by Rs 101 to Rs 28,258 per ten grams after moving in range of Rs 28,220 - Rs 28,326.

Similary, silver for delivery in March fell by Rs 369 to Rs 43,834 per Kg.

Gold in overseas markets, which normally set price trend on the domestic front, edged up today after falling by over 1 percent to below USD 1,200 an ounce yesterday.

The yellow metal is looking at its worst yearly loss in more than three decades at nearly 28 percent.

Spot gold last traded up USD 1.20 or 0.10 percent at USD 1,198.90 an ounce after hitting an intraday low of USD 1,194.99 Monday.

In New York, gold for February delivery traded lower by USD 10.20 or 0.8 percent to settle at USD 1,203.80 an ounce on the Comex division of the NYMEX yesterday.

The yellow metal plunged to a six-month low of USD 1,185.10 on Dec 20 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, extending its losses for the second straight day, gold prices fell by another Rs 150 to Rs 29,800 per ten grams at Delhi bullion market on sustained selling by stockists against falling demand amid a weakening global trend.

Similarly, silver lost another Rs 495 to Rs 43,755 per kg.

In Mumbai, gold of 99.9 and 99.5 percent purity traded at Rs 29,530 and Rs 29,380 per ten grams, respectively, while silver enquired at Rs 45,000 per kg.

Delhi

Gold of 99.9 and 99.5 percent purity fell by Rs 150 to Rs 29,800 and Rs 29,600 per ten grams, respectively. It had lost Rs 170 yesterday. Sovereign remained steady at Rs 25,100 per piece of eight gram.

In line with a general weak trend, silver ready dropped by Rs 495 to Rs 43,755 per kg and weekly-based delivery by Rs 595 to Rs 43,955 per kg. It had lost Rs 750 in last trade.

On the other hand, silver coins found selective buying and spurted by Rs 1,000 to Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.

International markets

Spot gold last traded up USD 1.20 or 0.10 percent at USD 1,198.90 an ounce after hitting an intraday low of USD 1,194.99 Monday.

In New York, gold for February delivery traded lower by USD 10.20 or 0.8 percent to settle at USD 1,203.80 an ounce on the Comex division of the NYMEX yesterday.

Gold ETF

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.37 percent to 798.22 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 29,530/ SILVER: Rs 45,000

Delhi

GOLD: Rs 29,800 (-150) / SILVER: Rs 43,755 (-495)

Chennai

GOLD: Rs 29,530/ SILVER: Rs 43,410

Kolkata

GOLD: Rs 29,445/ SILVER: Rs 43,600

Bangalore

GOLD: Rs 29,838/ SILVER: Rs 44,600

Hyderabad

GOLD: Rs 30,200/ SILVER: Rs 45,000




First Published: Tuesday, December 31, 2013, 13:54


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