Gold price today: Latest updates

Gold price today: Latest updates


Zee Media Bureau

Gold prices failed to continue early momentum and slipped below Rs 28,000- per ten grams level in futures trade Tuesday as market players booked profits, moving in tandem with a weakening global trend.

At the Multi Commodity Exchange (MCX), gold for delivery in June declined by Rs 117 to Rs 27,894 per ten grams against its previous close of Rs 28,011.

Similarly, silver for delivery in July traded lower by Rs 553 to Rs 43,609 per kg compared to Rs 44,162 on Monday.

Gold price in overseas markets, which normally set price trend on the domestic front, fell 1 percent today to a near three-week low after the Bank of Japan opted not to extend its stimulus programme, stoking speculation that the era of ultra-loose global monetary policy is coming to an end.

Gold had already been hurt by talk the US Federal Reserve may be set to taper its monetary easing sooner than expected, after Standard & Poor's revised up its US sovereign credit outlook on Monday and a US payrolls report last week beat forecasts.

Spot gold last traded down 1.1 percent at USD 1,371.11 an ounce.

In New York, gold for August delivery gained USD 3, or 0.2 percent to USD 1,386 an ounce on the Comex division of the NYMEX yesterday.

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.

In Delhi spot market, both the precious metals, gold and silver,surged on stockists buying as weak rupee raised concerns of increase in import costs.

While gold spurted by Rs 415 to Rs 28,515 per 10 grams, silver surged by Rs 905 to Rs 44,690 per kg on rising demand from industrial units and coin makers.

Chennai

Standard gold price rose by Rs 200 to Rs 27, 890 per ten grams as against its previous close of Rs 27,690.

Silver also strengthened by Rs 358 to Rs 43,600 per kg from Rs 43,215.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity zoomed up by Rs 415 each to Rs 28,515 and Rs 28,315 per 10 grams, respectively. It had gained Rs 100 yesterday. Sovereigns followed suit and shot up by Rs 200 to Rs 25,400 per piece of eight grams.

In a similar fashion, silver ready spurted by Rs 905 to Rs 44,690 per kg and weekly-based delivery by Rs 870 to Rs 44,040 per kg. The metal had gained Rs 185 in the previous session.

Silver coins also sky-rocketed by Rs 2,000 to Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity shot up by Rs 230 to finish at Rs 27,760 per 10 gm from last Saturday's closing level of Rs 27,530.

Pure gold of 99.9 percent purity rose by Rs 215 to end at Rs 27,890 per 10 gm from Rs 27,675.

Silver ready (.999 fineness) jumped by Rs 490 to close at Rs 44,690 per kg from previous closing level of Rs 44,200.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June declined by Rs 117 to Rs 27,894 per ten grams against its previous close of Rs 28,011.

Similarly, silver for delivery in July traded lower by Rs 553 to Rs 43,609 per kg compared to Rs 44,162 on Monday.

International markets

Spot gold last traded down 1.1 percent at USD 1,371.11 an ounce.

In New York, gold for August delivery gained USD 3, or 0.2 percent to USD 1,386 an ounce on the Comex division of the NYMEX yesterday.

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 SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.3 percent to 1,007.74 tonnes on Thursday, as outflows resumed after holding steady nearly a week. Holdings are at four-year low.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27,890 (+215) / SILVER: Rs 44,690 (+ 490)

Delhi
GOLD: Rs 28,515 (+ 415) / SILVER: Rs 43,690 (+905)

Chennai
GOLD: Rs 27, 890(+200) / SILVER: Rs 43,600 (+385)

Kolkata
GOLD: Rs 28,060 (+175) / SILVER: Rs 43,550 (+150)

Bangalore
GOLD: Rs 28,163 (+231) / SILVER: Rs 44,800 (+600)

Hyderabad
GOLD: Rs---- / SILVER: Rs ---- --

With Agency Inputs