Gold rate on December 21: Latest updates

Gold prices recovered smartly to reclaim the key Rs 25,000 per ten grams level at the domestic bullion market here Monday following good offtake from stockists and investors driven by a higher global cues.

Zee Media Bureau

Tracking a firming global trend amid pick-up in buying by jewellers, gold further rose by Rs 70 to Rs 25,600 per ten grams at Delhi bullion market Monday. Silver followed suit and gained another Rs 50 to Rs 33,850 per kg on increased offtake from industrial units and coin-makers.

At the Multi Commodity Exchange (MCX), gold for delivery in February moved up Rs 169, or 0.22 percent, to Rs 25,151 per 10 grams.

Globally, gold rose in European trade as uncertainty about how fast the Federal Reserve will tighten interest rates next year weighed on the dollar, while stronger European shares and a renewed slump in crude oil prices, which hit levels unseen since 2004, curbed gold's ascent.

In London, spot gold was quoting up at USD 1,071.31 an ounce in early trade, while silver rose to USD 14.21 an ounce.

Mumbai

Standard gold (99.5 purity) surged by Rs 265 per 10 grams to end at Rs 25,200 from last Friday's closing level of Rs 24,935. Pure gold (99.9 purity) also climbed by a similar margin of Rs 265 to finish at Rs 25,350 per 10 grams as compared to Rs 25,085 previously.

Silver (.999 fineness) also jumped by Rs 905 to close at Rs 34,425 per kg as against Rs 33,520.

Gold prices in other major Indian cities:

Bengaluru: Gold: Rs 25,600 per 10 grams; Silver: Rs 34,300 per kg

Kolkata: Gold: Rs 25,580 per 10 grams; Silver: Rs 33,950 per kg

Chennai: Gold: Rs 25,530 per 10 grams; Silver: Rs 33,900 per kg