Gold price today: Latest updates

Gold price today: Latest updates

Zee Media Bureau

Gold prices extended losses by Rs 154 to Rs 26,700 per ten grams in futures trade Tuesday as speculators trimmed their positions, tracking a weak global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in June, moved lower by Rs 154 to Rs 26,700 per ten grams as against its previous close of Rs Rs 26,854.

Similarly, silver for delivery in July dropped further by Rs 610 to Rs 44,508 per kg compared to Rs 45,118 on Monday.

Snapping a 3-day losing streak, gold prices surged by Rs 380 to Rs 27,900 per ten grams in Delhi bullion market today on brisk buying by stockists to meet the ongoing wedding season demand, amid a firm global trend.

However, silver held steady at Rs 45,500 per kg on lack of buying support from industrial units and coin makers.

Gold prices in overseas markets, which normally set price trend on the domestic front, rose for the first time in four sessions in early trade today but failed to maintain their momentum later.

Persistent outflows from exchange-traded funds coupled with Stronger dollar weighed on the yellow metal safe-haven appeal.

Spot gold traded USD 6.40 or 0.45 percent down after hitting a session high of USD 1,444.30 an ounce.

The yellow metal prices fell 1 percent on Monday, as stronger US retail sales data inspired economic hopes and reduced the safe-haven bid for gold.

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 higher by Rs 310 to Rs 27,480 per ten grams as against its previous close of Rs 27,170.

Silver also rose by Rs 85 to Rs 45,180 per kg from Rs 45,095.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity surged by Rs 380 each to Rs 27,900 and Rs 27,700 per 10 grams, respectively. The yellow metal had lost Rs 330 in last three sessions. Sovereigns rose by Rs 100 to Rs 24,000 per piece of eight grams.

On the other hand, silver ready held steady at Rs 45,500 per kg, while weekly-based delivery shed Rs 50 to Rs 44,870 per kg. Silver coins remained steady at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity recovered by Rs 155 to conclude at Rs 27,140 per 10 gm from Monday's closing level of Rs 26,985.

Pure gold of 99.9 percent purity also moved higher by Rs 150 to end at Rs 27,280 per 10 gm from Rs 27,130.

However, Silver ready (.999 fineness), slipped by Rs 130 to finish at Rs 45,785 per kg compared to Rs 45,915.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June, moved lower by Rs 154 to Rs 26,700 per ten grams as against its previous close of Rs Rs 26,854.

Similarly, silver for delivery in July dropped further by Rs 610 to Rs 44,508 per kg compared to Rs 45,118 on Monday.

International markets

Spot gold traded USD 6.40 or 0.45 percent down after hitting a session high of USD 1,444.30 an ounce.

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

Holdings in the SPDR Gold Trust, the world's largest gold-backed ETP, fell around 0.2 percent to 1,051.65 tonnes on Friday after rising slightly in the day-earlier session.The holdings stood at a four-year low.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27,280 (+150) / SILVER: Rs 45,785 (-130)

Delhi
GOLD: Rs 27,900 (+380)/ SILVER : Rs 45,500 (Unchanged)

Chennai
GOLD: 27,480 (+310) / SILVER: Rs 45,180 (+85)

Kolkata
GOLD: Rs 27,940 (+390) / SILVER: Rs 45,500 (Unchanged)

Bangalore
GOLD: Rs 27,992/ SILVER: Rs 46,100

Hyderabad
GOLD: Rs 27,000 / SILVER: Rs 48,000

With Agency Inputs