Gold prices moved higher by Rs 97 to Rs 27,189 per ten grams
in futures trade Wednesday as market players enlarged their positions, moving
in tandem with their global counterparts . At the Multi Commodity Exchange
(MCX), gold for delivery in June rose by Rs 97 to Rs 27,189 per ten grams as
against its previous closing level of Rs 27,007. Silver for delivery in July
increased by Rs 304 to Rs 44,067 per kg compared to Rs 43,763 per kg on
Tuesday. Gold prices in overseas
markets, which normally set price trend on the domestic front, recovered today
from a near 1 percent fall in the previous session as investors' hopes of the
US bond-buying program staying intact for some more time overshadowed their
fears of slowing bullion demand in India, the world's top consumer.
Spot gold last traded up 0.5 percent at USD 1,406.26 an
ounce after falling 0.9 percent on Tuesday due to new import rules imposed by
India. In New York, gold for August delivery dropped USD 14.70, or 1 percent to
settle at USD 1,397.20 an ounce on the Comex division of the NYMEX Tuesday. Silver
for July delivery also settled down 31 cents, or 1.4 percent at USD 22.41 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. In
Delhi spot market, gold prices spurted by Rs 245 to Rs 27,670 per 10 grams on
sustained buying by stockists amid a firming global trend. Silver ready rose by
Rs 300 to Rs 44,800 per kg and weekly-based delivery by Rs 380 to Rs 44,120 per
kg on speculative buying.
Chennai
Standard gold price increased by Rs 105 to Rs 27,290 per ten
grams as against its previous close of Rs 27,185.
Silver also rose by Rs 210 to Rs 44,405 per kg from Rs
44,195.
DelhiIn the national capital, gold of 99.9 and 99.5 percent purity spurted by Rs 245 each to Rs 27,670 and Rs 27,470 per 10 grams, respectively. Sovereigns also moved up by Rs 100 to Rs 24,100 per piece of eight grams. Silver ready rose by Rs 300 to Rs 44,800 per kg and weekly-based delivery by Rs 380 to Rs 44,120 per kg on speculative buying. Silver coins, on the other hand, held steady at Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.
Mumbai
Standard gold of 99.5 percent purity fell by Rs 30 to
conclude at Rs 27,030 per 10 gm from Monday's closing level of Rs 27,060. Pure
gold of 99.9 percent purity edged down by Rs 35 to finish at Rs 27,155 per 10
gm from Rs 27,190. Silver ready (.999 fineness) shed by Rs 250 to end at Rs
45,000 per kg, compared to yesterday's close of Rs 45,250.
At the Multi Commodity Exchange (MCX), gold for delivery in
June rose by Rs 97 to Rs 27,189 per ten grams as against its previous closing
level of Rs 27,007. Silver for delivery in July increased by Rs 304 to Rs
44,067 per kg compared to Rs 43,763 per kg on Tuesday.
International markets
Spot gold last traded up 0.5 percent at USD 1,406.26 an
ounce after falling 0.9 percent on Tuesday due to new import rules imposed by
India. In New York, gold for August delivery dropped USD 14.70, or 1 percent to
settle at USD 1,397.20 an ounce on the Comex division of the NYMEX Tuesday. Silver
for July delivery also settled down 31 cents, or 1.4 percent at USD 22.41 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.
Holdings of New York's SPDR Gold Trust, the largest
gold-backed exchange-traded-fund, remained unchanged on Monday, showing
investors' growing confidence in the metal. The near-three week decline in the
holdings came to a stop last Wednesday.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
Delhi
Chennai
Kolkata
Bangalore
Hyderabad
Source : Zee News
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