Mostly Cloudy
21°CWed :Mostly Clear. High: 23 Low: 14

Gold price today: Latest updates

Gold price today: Latest updates

Gold prices continued to trade lower by Rs 41 to Rs 26,026 per ten grams in futures trade Thursday as market players offloaded their exposures even gold prices at international level edged higher after tumbling 12 percent over the past eight sessions.

At the Multi Commodity Exchange (MCX), gold for delivery in August fell by Rs 41 to Rs 26,026 per ten grams.

Similarly, silver for delivery in July moved lower by Rs 85 to Rs 38,483 per kg.

According to Shiv Shrivastava, MD & CEO, IGuru Research, gold prices may fall up to Rs 25,500 per ten grams in the near-term.

In medium-term prices may move in range of Rs 25,500-26,500 as gradual appreciation in rupee further will cap uptrend at domestic level as compared to overseas market.

Gold price in overseas markets, which normally set price trend on the domestic front, edged higher today as soft data on US economic growth eased fears of a quick end to the Federal Reserve’s monetary stimulus.

Spot gold last traded up USD 13.30 or 1.09 percent at USD 1,239.50 an ounce after a 4 percent fall on Wednesday that took the metal to USD 1,221.80, its lowest since August 2010. Silver, which sank 5.5 percent in the previous session, gained about 2 percent.

In New York, gold for August delivery dropped 45.30 or 3.6 percent to settle at USD 1,229.80 an ounce on the Comex division of the NYMEX yesterday.

In Delhi spot market, gold prices today plunged to one-month low by losing Rs 620 to Rs 26,680 per 10 grams on hectic selling by stockists, triggered by a steep fall in the precious metal’s prices overseas.

The current fall in the yellow metal prices placed it to a level last seen on May 28.

Silver followed suit and plunged by Rs 1,000 to Rs 40,500 per kg on poor offtake by industrial units and coin makers.

Chennai

Standard gold prices tanked by Rs 740 to Rs 26,280 per ten grams as against its previous close of Rs 27,020.

Similarly, silver prices tumbled by Rs 1725 to Rs 39,560 per kg from Rs 41,285.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity suffered a setback of Rs 620 each to Rs 26,680 and Rs 26,480 per 10 grams, respectively, a level last seen on May 28.

Sovereigns followed suit and lost Rs 200 to Rs 24,000 per piece of eight grams.

In a similar fashion, silver ready nosedived by Rs 1,000 to Rs 40,500 per kg and weekly-based delivery by Rs 1,025 to Rs 39,590 per kg. Silver coins plunged by Rs 2000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.

Mumbai

Standard gold of 99.5 percent purity nosedived by Rs 680 to close at Rs 26,145 per 10 gm from Tuesday’s closing level of Rs 26,825.

Pure gold of 99.9 percent purity tanked by Rs 685 to conclude at Rs 26,280 per 10 gm from Rs 26,965 yesterday.

Silver ready (.999 fineness) plummeted by a hefty Rs 1,695 to end at Rs 40,475 per kg from Rs 42,170 previously.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in August fell by Rs 41 to Rs 26,026 per ten grams.

Similarly, silver for delivery in July moved lower by Rs 85 to Rs 38,483 per kg.

International markets

Spot gold last traded up USD 13.30 or 1.09 percent at USD 1,239.50 an ounce after a 4 percent fall on Wednesday that took the metal to USD 1,221.80, its lowest since August 2010. Silver, which sank 5.5 percent in the previous session, gained about 2 percent.

In New York, gold for August delivery dropped 45.30 or 3.6 percent to settle at USD 1,229.80 an ounce on the Comex division of the NYMEX yesterday.

Gold ETF

The world’s No. 1 gold ETF the SPDR Gold Shares reported the biggest one-day drop in its holdings in more than two months at 16.23 tonnes on Tuesday. That brought the fund’s total outflow for the year to 381 tonnes.

Here are the city wise gold and silver rates:

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

Mumbai

GOLD: 26,280 (-685) / SILVER: Rs 40,475 (-1,695)

Delhi

GOLD: Rs 26,680 (-620) / SILVER: Rs 40,500 (-1,000)

Chennai

GOLD: Rs 26,280 / SILVER: Rs 39,560

Kolkata

GOLD: Rs 26,645 / SILVER: Rs 40,000

Bangalore

GOLD: Rs 26,663 / SILVER: Rs 40,600

Hyderabad

GOLD: Rs 27,300 / SILVER: Rs 43,500

 

Top Stories

43894569.cms

Bigg Boss 8: Deepshika’s group wins the Hijack errand, moves inside the new house

October-01-2014
The previous evening Bigg Boss 8 house saw some high voltage dramatization when Gautam Gulati lost his cool and disparaged co-hopeful Karishma
Tombstone

Orkut close down, clients asked to fare photographs

October-01-2014
BANGALORE: Google pulled the attachment of the once commended person to person communication site, Orkut, on September 30. Before Google wandered into
anilambanireuters2

Rcom to slice obligation to beneath Rs 20,000 cr in excess of 2 years; 4g take off in 2015

October-01-2014
Mumbai: Reliance Communications today said it plans to diminish its obligation to underneath Rs 20,000 crore in the following couple of years
home-minister-rajnath-singh-asks-to-revamp-crpf-to-fight-naxals

Home Minister Rajnath Singh asks to patch up CRPF to battle naxals

October-01-2014
NEW DELHI: Home Minister Rajnath Singh has requested a patch up of the lead energy against the Naxals, the Central Reserve Police
jaya-sept_350_092914121914

Jayalalithaa to stay in prison, court concedes safeguard hearing till Oct 7

October-01-2014
Giving no alleviation to imprisoned Tamil Nadu boss pastor J Jayalalithaa , the Karnataka high court on Wednesday conceded the hearing on
abacafoto_1430_30092014204502990_r_abc_20140930000000_a014006080012-jpg20141001022915

India, US vow to enhance ties, place it in composing

October-01-2014
India and the US on Tuesday promised to re-imbue force and warmth to their long-standing ties and “go past unobtrusive and ordinary