Gold prices maintained an upward trend
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Gold prices maintained an upward trend for the fifth-straight day by
adding Rs 400 to regain the psychological level of Rs 28,000 per ten
grams in the national capital Thursday on strong demand from stockists
and traders coupled with marriage season off-take from consumers amid a
firming global trend.
Silver also recovered by Rs 500 to Rs 45,500 per kg on increased offtake by industrial units and coin makers.
Meanwhile, gold prices continued their upward momentum in futures trade today and rallied by over Rs 650 points to regain Rs 27,000-level as speculators enlarged their positions tracking a firm global trend.
Silver also regained Rs 45,000-level in futures trade.
At the Multi Commodity Exchange (MCX), metal for delivery in June contracts climbed by Rs 653 to Rs 27,041 per ten grams.
Similarly, silver for delivery in May contracts rallied by Rs 2,282 to Rs 45,174 per Kg.
In another benchmark spot market, Mumbai, gold reclaimed Rs 27,000 per ten grams level on continued physical buying.
Silver also soared on low-level speculative buying and industrial demand, and regained the Rs 45,000 per kg mark.
Gold in overseas markets, which normally set price trend on the domestic front, climbed to the highest level since September last year, as rising central bank and physical purchases countered tumbling assets in exchange-traded products.
Spot gold surged by USD 34.60 or 2.42 percent to USD 1,467.10 per 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.
Mumbai
Standard gold of 99.5 percent purity shot up by Rs 400 to end at Rs 26,970 per 10 grams from Wednesday's closing level of Rs 26,570.
Pure gold of 99.9 percent purity also surged by a similar margin to finish at Rs 27,110 per 10 grams from Rs 26,710.
Silver ready (.999 fineness) vaulted by Rs 715 to close at Rs 45,315 per kg from Rs 44,600 yesterday.
Chennai
Standard gold price moved higher by Rs 445 to Rs 27,495 per ten grams as against its previous close of Rs 27,050.
Silver also rallied by Rs 745 to Rs 44,795 from Rs 44,050 per kg.
Delhi
In the national capital, gold of 99.9 and 99.5 percent purity advanced by Rs 400 each to Rs 28,000 and Rs 27,800 per 10 grams, respectively. The yellow metal had gained Rs 1,250 in the previous four sessions.
Sovereign followed suit and climbed Rs 250 to Rs 24,350 per piece of eight gram.
In line with a general firm trend, silver ready recovered by Rs 500 to Rs 45,500 per kg and weekly-based delivery by Rs 660 to Rs 43,310 per kg. The white metal had lost Rs 800 on Tuesday's trade.
Silver coins also spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.
Futures Trade (MCX)
At the Multi Commodity Exchange (MCX), metal for delivery in June contracts climbed by Rs 653 to Rs 27,041 per ten grams.
Similarly, silver for delivery in May contracts rallied by Rs 2,282 to Rs 45,174 per Kg.
International markets
Gold in overseas markets, which normally set price trend on the domestic front, surged by USD 34.60 or 2.42 percent to USD 1,467.10 per ounce.
In international markets 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 0.38 percent to 1092.98 tonnes on Wednesday from 1097.19 tonnes on Tuesday. The current holdings are at multi-year low.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: Rs 27,110 (+400)/ SILVER: Rs 45,315 (+715)
Delhi
GOLD: Rs 28,000 (+400), SILVER: Rs 45,500 (+500)
Chennai
GOLD: 27,495 (+445)/ SILVER: Rs 44,945 (+745)
Kolkata
GOLD: 28,600 (+170)/ SILVER: Rs 46,550 (+500)
Bangalore
GOLD: Rs 27,563 (+472) / SILVER: Rs 45,700 (unchanged)
Hyderabad
GOLD: Rs 28,000 (-1000) / SILVER: 48,000 (-1000)
Silver also recovered by Rs 500 to Rs 45,500 per kg on increased offtake by industrial units and coin makers.
Meanwhile, gold prices continued their upward momentum in futures trade today and rallied by over Rs 650 points to regain Rs 27,000-level as speculators enlarged their positions tracking a firm global trend.
Silver also regained Rs 45,000-level in futures trade.
At the Multi Commodity Exchange (MCX), metal for delivery in June contracts climbed by Rs 653 to Rs 27,041 per ten grams.
Similarly, silver for delivery in May contracts rallied by Rs 2,282 to Rs 45,174 per Kg.
In another benchmark spot market, Mumbai, gold reclaimed Rs 27,000 per ten grams level on continued physical buying.
Silver also soared on low-level speculative buying and industrial demand, and regained the Rs 45,000 per kg mark.
Gold in overseas markets, which normally set price trend on the domestic front, climbed to the highest level since September last year, as rising central bank and physical purchases countered tumbling assets in exchange-traded products.
Spot gold surged by USD 34.60 or 2.42 percent to USD 1,467.10 per 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.
Mumbai
Standard gold of 99.5 percent purity shot up by Rs 400 to end at Rs 26,970 per 10 grams from Wednesday's closing level of Rs 26,570.
Pure gold of 99.9 percent purity also surged by a similar margin to finish at Rs 27,110 per 10 grams from Rs 26,710.
Silver ready (.999 fineness) vaulted by Rs 715 to close at Rs 45,315 per kg from Rs 44,600 yesterday.
Chennai
Standard gold price moved higher by Rs 445 to Rs 27,495 per ten grams as against its previous close of Rs 27,050.
Silver also rallied by Rs 745 to Rs 44,795 from Rs 44,050 per kg.
Delhi
In the national capital, gold of 99.9 and 99.5 percent purity advanced by Rs 400 each to Rs 28,000 and Rs 27,800 per 10 grams, respectively. The yellow metal had gained Rs 1,250 in the previous four sessions.
Sovereign followed suit and climbed Rs 250 to Rs 24,350 per piece of eight gram.
In line with a general firm trend, silver ready recovered by Rs 500 to Rs 45,500 per kg and weekly-based delivery by Rs 660 to Rs 43,310 per kg. The white metal had lost Rs 800 on Tuesday's trade.
Silver coins also spurted by Rs 1,000 to Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.
Futures Trade (MCX)
At the Multi Commodity Exchange (MCX), metal for delivery in June contracts climbed by Rs 653 to Rs 27,041 per ten grams.
Similarly, silver for delivery in May contracts rallied by Rs 2,282 to Rs 45,174 per Kg.
International markets
Gold in overseas markets, which normally set price trend on the domestic front, surged by USD 34.60 or 2.42 percent to USD 1,467.10 per ounce.
In international markets 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 0.38 percent to 1092.98 tonnes on Wednesday from 1097.19 tonnes on Tuesday. The current holdings are at multi-year low.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: Rs 27,110 (+400)/ SILVER: Rs 45,315 (+715)
Delhi
GOLD: Rs 28,000 (+400), SILVER: Rs 45,500 (+500)
Chennai
GOLD: 27,495 (+445)/ SILVER: Rs 44,945 (+745)
Kolkata
GOLD: 28,600 (+170)/ SILVER: Rs 46,550 (+500)
Bangalore
GOLD: Rs 27,563 (+472) / SILVER: Rs 45,700 (unchanged)
Hyderabad
GOLD: Rs 28,000 (-1000) / SILVER: 48,000 (-1000)
Courtesy: Zee News
