Gold price today: Latest updates

Gold price today: Latest updates

Zee Media Bureau/Ajeet Kumar

Paring some part of their early gains, gold prices end the week below Rs 30,000 level in futures trade Friday as market participants trimmed their positions, in tandem with a weakening trend overseas.

At the Multi Commodity Exchange (MCX), gold for delivery in December gained by Rs 33 to settle at Rs 29,826 per ten grams after moving in range of Rs 29,733-Rs 30,075 per ten grams.

Similarly, silver for delivery in December moved higher by Rs 244 to Rs 48,675 per Kg.

Gold price in overseas markets, which normally set price trend on the domestic front, tumbled to a two-week low today and headed for a weekly drop as upbeat US economic data lifted the dollar, raising anxiety over the Federal Reserve's future course.

The yellow metal was headed for a 2.8 percent weekly drop, after climbing for two consecutive weeks, as expectations the US Federal Reserve will maintain its economic stimulus seemed to have been factored in.

The yellow metal is headed for a 2 percent weekly drop - its first in three weeks - with expectations the Federal Reserve will maintain its economic stimulus now factored in.

Spot gold last traded down USD 14.20 or 1.07 percent at USD 1,309.50 an ounce, extending Thursday's 1.4 percent slide.

In New York, gold for December delivery fell by USD 16 or 1.19 percent at USD 1,308 an ounce on the Comex division of the NYMEX.

Meanwhile, gold prices fell for the fifth straight day in Delhi bullion market on heavy selling by stockists in line with weak global trend.

The prices of yellow metal declined despite the ongoing token buying for the auspicious festival of Dhanteras.

After losing Rs 1,120 in last four sessions, gold fell further by Rs 50 to Rs 31,400 per ten gram and silver by Rs 450 to Rs 49,100 per kg in continuation with a loss of Rs 550 yesterday on reduced offtake by industrial units.

Mumbai

Standard gold of 99.5 percent purity dropped by Rs 170 to conclude at Rs 30,510 per 10 grams from Thursday's closing level of Rs 30,680.

Pure gold of 99.9 percent purity lost Rs 145 to end at Rs 30,685 per 10 grams from Rs 30,830.

Silver ready (.999 fineness) slumped by Rs 665 to close at Rs 49,320 per kilo as compared to overnight level of Rs 49,985.

Delhi

Gold of 99.9 and 99.5 percent purity shed Rs 50 each to Rs 31,400 and Rs 31,200 per ten gram, respectively. Sovereign held steady at Rs 25,300 per piece of eight gram in limited deals.

Silver ready fell by Rs 450 to Rs 49,100 per kg and weekly-based delivery by Rs 425 to Rs 48,695 per kg.

Silver coins continued to be asked at last level of Rs 87,000 for buying and Rs 88,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in December gained by Rs 33 to settle at Rs 29,826 per ten grams after moving in range of Rs 29,733-Rs 30,075 per ten grams.

Similarly, silver for delivery in December moved higher by Rs 244 to Rs 48,675 per Kg.

International markets

Spot gold last traded down USD 14.20 or 1.07 percent at USD 1,309.50 an ounce, extending Thursday's 1.4 percent slide.

In New York, gold for December delivery fell by USD 16 or 1.19 percent at USD 1,308 an ounce on the Comex division of the NYMEX.

Gold ETF

SPDR Gold Trust, the biggest gold-backed ETF, has seen outflows of over USD 20 billion this year, weighing heavily on global prices. Holdings of the fund are near four-year low.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 30,685 (-145) / SILVER: Rs 49,320 (-665)

Delhi

GOLD: Rs 31,400 (-50) / SILVER: Rs 49,100 (-450)

Chennai

GOLD: Rs 30,295/ SILVER: Rs 48,560

Kolkata

GOLD: Rs 31,365 / SILVER: Rs 49,000

Bangalore

GOLD: Rs 30,915/ SILVER: Rs 49,300

Hyderabad

GOLD: Rs 31,380/ SILVER: Rs 50,400