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Gold price today – INDIA

Zee Media Bureau

Gold prices failed to continue uptrend by declining Rs 84 in futures trade Tuesday as speculators cut their positions, moving in tandem with weak overseas trends.

At the Multi Commodity Exchange (MCX), gold for delivery in June, dropped by Rs 84 to Rs 27, 012 per ten grams as against its previous close of Rs 27,096.

Similarly, silver for delivery in July dipped below Rs 45,000-level by moving lower by Rs 388 to Rs 44,780 per kg.

Gold prices in overseas markets, which normally set price trend on the domestic front, traded lower by USD 5.20 or 0.35 percent at USD 1,466.10 per ounce as continued outflows in bullion-backed exchange-traded funds coupled with better-than-expected US employment figures weighed on yellow metal’s safe-haven appeal.

In New York, gold for June delivery however, climbed by USD 3.80 or 0.3 percent to settle at USD 1,468 an ounce on the Comex division of the NYMEX yesterday.

The US unemployment rate has dropped to a four-year low of 7.5 percent, as the economy added 165,000 jobs in April, latest official figures released on Friday said.

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.

Meanwhile, both the precious metals, gold and silver, rose in the national capital on fresh buying by stockists to meet the ongoing marriage season demand amid a firm global trend.

While gold rose by Rs 120 to Rs 27,870 per 10 grams, silver gained Rs 200 to Rs 46,200 per kg on increased offtake by jewellers and industrial units.

Chennai

Standard gold price moved lower by Rs 35 to Rs 27,570 per ten grams as against its previous close of Rs 27,605.

Silver however, extended gains by Rs 90 to Rs 45,665 from Rs 45,575 per kg.

Mumbai

Standard gold of 99.5 percent purity spurted by Rs 215 per 10 gm to end at Rs 27,365 from last Saturday’s closing level of Rs 27,150.

Pure gold of 99.9 percent purity also rose by Rs 210 per 10 gm to conclude at Rs 27,495 from Rs 27,285.

Silver ready (.999 fineness) strengthened by Rs 135 to finish at Rs 46,410 per kg as against Rs 46,275 last weekend.

Delhi

In the national capital, gold of 99.9 and 99.5 percent purity rose by Rs 120 each to Rs 27,870 and Rs 27,670 per 10 grams, respectively, while sovereigns gained Rs 200 to Rs 24,200 per piece of eight grams.

With the general firming trend, silver ready moved up by Rs 200 to Rs 46,200 per kg and weekly-based delivery by Rs 155 to Rs 45,315 per kg. Silver coins, however, held steady at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), gold for delivery in June, dropped by Rs 84 to Rs 27, 012 per ten grams as against its previous close of Rs 27,096.

Similarly, silver for delivery in July edged lower by Rs 388 to Rs 44,780 per kg.

International markets

Spot gold traded down by USD 5.20 or 0.35 percent to USD 1,466.10 per ounce.

In New York, gold for June delivery however, climbed by USD 3.80 or 0.3 percent to settle at USD 1,468 an ounce on the Comex division of the NYMEX.

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

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.31 percent to 1062.30 tonnes on Monday — the lowest since August 2009. In terms of ounces, holdings fell to 34,153,901.

Here are the city wise gold and silver rates:

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

Mumbai
GOLD: Rs 27,495 (+210) / SILVER: Rs 46,410 (135)

Delhi
GOLD: Rs 27,870 (+120)/ SILVER : Rs 46,200 (+200)

Chennai
GOLD: 27,570 (-35) / SILVER: Rs 45,665 (90)

Kolkata
GOLD: Rs 28,035 (+135) / SILVER: Rs 46,550 (+150)

Bangalore
GOLD: Rs 27,914 (+51) / SILVER: Rs 46,700 ( +200)

Hyderabad
GOLD: Rs 27,900 (-100) / SILVER: Rs 47,500 (-1000)

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