Gold price today: Latest updates

Gold price today: Latest updates

Zee Media Bureau

Gold prices dipped below Rs 27,000 per ten grams level, by falling Rs 378 to Rs 26,788 in futures trade Friday, moving closely in tandem with global downtrend.

Robust physical buying in spot markets also failed to cap the downside.

At the Multi Commodity Exchange (MCX), gold for delivery in June, moved lower by Rs 378 to Rs 26,788 per ten grams as against its previous close of to Rs 27,166.

Similarly, silver for delivery in July declined by Rs 545 to Rs 44,620 compared to Rs 45,165 per kg Thursday.

Retreating from yesterday's surge, gold prices slipped by Rs 25 to Rs 27,825 per ten grams in Delhi bullion market Friday, tracking downtrend in futures trade.

On the other hand, silver held steady at Rs 46,000 for per kg while weekly-based delivery shed Rs 50 to Rs 45,150 per kg.

Meanwhile, gold prices in overseas markets, which normally set price trend on the domestic front, dropped by USD 23 per ounce or 1.58 percent to 1,436.50 per ounce due to strong dollar and drop in US weekly jobless claims to their lowest level since 2008.

Yesterday, US data showed that new claims for jobless benefits dropped to the lowest level in more than five years, ticking down 4,000 to 323,000.

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 moved lower by Rs 50 to Rs 27,470 per ten grams as against its previous close of Rs 27,520.

However, silver inched up by Rs 15 to Rs 45,395 per kg from Rs 44,380.

Mumbai

Standard gold of 99.5 percent purity rose by Rs 65 per 10 gm to Rs 27,375 from Thursday's closing level of 27,310.

Pure gold of 99.9 percent purity advanced by Rs 55 per 10 gm to Rs 27,500 from Rs 27,445 .

Silver ready (.999 fineness) declined by Rs 305 per kg to Rs 45,790 as against Rs 46,095 yesterday.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity declined by Rs 25 each to Rs 27,825 and Rs 28.625 per 10 gm, respectively. It had gained Rs 285 yesterday.

Sovereign, however, remained stable at Rs 24,000 per piece of eight gram in scattered deals.

On the other hand, silver ready held steady at Rs 46,000 for per kg while weekly-based delivery shed Rs 50 to Rs 45,150 per kg.

Silver coins continued to be asked around previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June, moved lower by Rs 378 to Rs 26,788 per ten grams as against its previous close of to Rs 27,166.

Similarly, silver for delivery in July declined by Rs 545 to Rs 44,620 compared to Rs 45,165 per kg Thursday.

International markets

Spot gold dropped by USD 23 or 1.58 percent to USD 1,436.50 per ounce today.

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 rose 0.26 percent to 1,054.18 tonnes on Thursday from 1051.47 tonnes on Wednesday, but are still near 4-year low.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27,500 (+55) / SILVER: Rs 45,790 (-305)

Delhi
GOLD: Rs 27,825 (-25)/ SILVER : Rs 46,000 (Unchanged)

Chennai
GOLD: 27,470 (-50) / SILVER: Rs 45,395 (+15)

Kolkata
GOLD: Rs 27,775 (-240) / SILVER: Rs 45,450 (-550)

Bangalore
GOLD: Rs 27,520 / SILVER: Rs 45,600

Hyderabad
GOLD: Rs 27,960 / SILVER: Rs 48,800

With Agency Inputs