Gold prices edged up Tuesday after zooming Rs 838 to Rs 27,543- per ten grams in futures trade yesterday as market players continued to enlarge their positions amid a range-bound trade in international market.
At the Multi Commodity Exchange (MCX), gold for delivery in August inched up by Rs 11 to Rs 27,571 per ten grams as against its previous close of Rs 27,543.
However, silver for delivery in September declined by Rs 220 to Rs 42,014 per kg compared to Rs 42,220 on Monday.
'Not wise to invest in gold at current level'
Gold price in overseas markets, rose over 3 percent to its highest level in a month on Monday as the US dollar slipped against other currencies, with gains in Japanese bullion futures adding extra support.
Spot gold hit a one-month high of USD 1,338.91 on Monday, as speculators fearing a reversal of the recent downward price trend rushed to buy back bearish bets.
It was the gold's heftiest one-day gain in 13 months and its three-day rally is the biggest in almost two years.
Gold has now rallied of 4.6 percent since Thursday, its biggest three-day gain since October 27, 2011.
The yellow metal is still down 23 percent this year and languishes in bear territory.
In New York, gold for August delivery climbed USD 43.10 or 3.3 percent to settle at USD 1,336 an ounce on the Comex division of the NYMEX. The settlement was the highest for a most-active contract since June 19 of this year. The metal also scored its largest one-day percentage and dollar gain since June 29, 2012.
In Delhi spot market, Gold prices surged by Rs 390 to Rs 27,680 per 10 grams in the national capital Monday on brisk buying by stockists, taking strong cues from global markets.
In line with the general firming trend, silver shot up by Rs 800 to Rs 41,325 per kg on increased offtake by jewellers and industrial units.
Mumbai
Standard gold of 99.5 percent purity shot up by Rs 440 to settle at Rs 27,325 per 10 gm from last Saturday's closing level of Rs 26,885.
Pure gold of 99.9 percent purity climbed up by Rs 435 to conclude at Rs 27,465 per 10 gm from Rs 27,030.
Silver ready (.999 fineness) zoomed by Rs 1,000 to end at Rs 41,885 per kg as against Rs 40,885 last weekend.
Chennai
Standard gold prices moved higher by Rs 405 to 27,350 per ten grams as against its previous close of Rs 26,945.
Similarly, silver prices zoomed by Rs 920 to Rs 41,195 per kg from Rs 40,275.
Delhi
In the national capital, gold of 99.9 and 99.5 percent purity zoomed up by Rs 390 each to Rs 27,680 and Rs 27,480 per 10 grams, respectively. Sovereigns followed suit and rose by Rs 50 to Rs 24,300 per piece of eight grams.
In a similar fashion, silver ready rallied by Rs 800 to Rs 41,325 per kg and weekly-based delivery by Rs 840 to Rs 41,200 per kg, respectively. However, silver coins held steady at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.
Futures Trade (MCX)
At the Multi Commodity Exchange (MCX), gold for delivery in August inched up by Rs 11 to Rs 27,571 per ten grams as against its previous close of Rs 27,543.
However, silver for delivery in September declined by Rs 220 to Rs 42,014 per kg compared to Rs 42,220 on Monday.
International markets
Spot gold hit a one-month high of USD 1,338.91 on Monday, as speculators fearing a reversal of the recent downward price trend rushed to buy back bearish bets.
In New York, gold for August delivery climbed USD 43.10 or 3.3 percent to settle at USD 1,336 an ounce on the Comex division of the NYMEX.
Gold ETF
In New York, gold for August delivery climbed USD 43.10 or 3.3 percent to settle at USD 1,336 an ounce on the Comex division of the NYMEX.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: 27,465 (+435) / SILVER: Rs 41,885 (+1,000)
Delhi
GOLD: Rs 27,680 (+390) / SILVER: Rs 41,325 (+800)
Chennai
GOLD: Rs 27,350 (+405) / SILVER: Rs 41,195 (+920)
Kolkata
GOLD: Rs 27,680 / SILVER: Rs 41,200
Bangalore
GOLD: Rs 27,674/ SILVER: Rs 41,800
Hyderabad
GOLD: Rs 27,600 / SILVER: Rs 42,300
At the Multi Commodity Exchange (MCX), gold for delivery in August inched up by Rs 11 to Rs 27,571 per ten grams as against its previous close of Rs 27,543.
However, silver for delivery in September declined by Rs 220 to Rs 42,014 per kg compared to Rs 42,220 on Monday.
'Not wise to invest in gold at current level'
Gold price in overseas markets, rose over 3 percent to its highest level in a month on Monday as the US dollar slipped against other currencies, with gains in Japanese bullion futures adding extra support.
Spot gold hit a one-month high of USD 1,338.91 on Monday, as speculators fearing a reversal of the recent downward price trend rushed to buy back bearish bets.
It was the gold's heftiest one-day gain in 13 months and its three-day rally is the biggest in almost two years.
Gold has now rallied of 4.6 percent since Thursday, its biggest three-day gain since October 27, 2011.
The yellow metal is still down 23 percent this year and languishes in bear territory.
In New York, gold for August delivery climbed USD 43.10 or 3.3 percent to settle at USD 1,336 an ounce on the Comex division of the NYMEX. The settlement was the highest for a most-active contract since June 19 of this year. The metal also scored its largest one-day percentage and dollar gain since June 29, 2012.
In Delhi spot market, Gold prices surged by Rs 390 to Rs 27,680 per 10 grams in the national capital Monday on brisk buying by stockists, taking strong cues from global markets.
In line with the general firming trend, silver shot up by Rs 800 to Rs 41,325 per kg on increased offtake by jewellers and industrial units.
Mumbai
Standard gold of 99.5 percent purity shot up by Rs 440 to settle at Rs 27,325 per 10 gm from last Saturday's closing level of Rs 26,885.
Pure gold of 99.9 percent purity climbed up by Rs 435 to conclude at Rs 27,465 per 10 gm from Rs 27,030.
Silver ready (.999 fineness) zoomed by Rs 1,000 to end at Rs 41,885 per kg as against Rs 40,885 last weekend.
Chennai
Standard gold prices moved higher by Rs 405 to 27,350 per ten grams as against its previous close of Rs 26,945.
Similarly, silver prices zoomed by Rs 920 to Rs 41,195 per kg from Rs 40,275.
Delhi
In the national capital, gold of 99.9 and 99.5 percent purity zoomed up by Rs 390 each to Rs 27,680 and Rs 27,480 per 10 grams, respectively. Sovereigns followed suit and rose by Rs 50 to Rs 24,300 per piece of eight grams.
In a similar fashion, silver ready rallied by Rs 800 to Rs 41,325 per kg and weekly-based delivery by Rs 840 to Rs 41,200 per kg, respectively. However, silver coins held steady at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.
Futures Trade (MCX)
At the Multi Commodity Exchange (MCX), gold for delivery in August inched up by Rs 11 to Rs 27,571 per ten grams as against its previous close of Rs 27,543.
However, silver for delivery in September declined by Rs 220 to Rs 42,014 per kg compared to Rs 42,220 on Monday.
International markets
Spot gold hit a one-month high of USD 1,338.91 on Monday, as speculators fearing a reversal of the recent downward price trend rushed to buy back bearish bets.
In New York, gold for August delivery climbed USD 43.10 or 3.3 percent to settle at USD 1,336 an ounce on the Comex division of the NYMEX.
Gold ETF
In New York, gold for August delivery climbed USD 43.10 or 3.3 percent to settle at USD 1,336 an ounce on the Comex division of the NYMEX.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: 27,465 (+435) / SILVER: Rs 41,885 (+1,000)
Delhi
GOLD: Rs 27,680 (+390) / SILVER: Rs 41,325 (+800)
Chennai
GOLD: Rs 27,350 (+405) / SILVER: Rs 41,195 (+920)
Kolkata
GOLD: Rs 27,680 / SILVER: Rs 41,200
Bangalore
GOLD: Rs 27,674/ SILVER: Rs 41,800
Hyderabad
GOLD: Rs 27,600 / SILVER: Rs 42,300
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