Zee Media Bureau/Ajeet Kumar
Recovering from its intra-day low, gold posted gains of nearly 1 percent in futures trade Thursday as speculators enlarged their positions in tandem with a firming trend overseas.
At the Multi Commodity Exchange (MCX), gold for delivery in August rebounded by Rs 249 or 0.96 percent to settle at Rs 26,322 per ten grams.
Shiv Shrivastava, MD & CEO, IGuru Research opined gold prices may face an upward push and see a range of Rs 25,750- Rs 26,500 per ten grams in the coming week.
Gold in overseas markets, which normally set price trend on the domestic front, gained by 1 percent to USD 1,273 per ounce.
US gold futures for August delivery ended at USD 1,274 an ounce, up USD 12.80.
Rally in oil prices, weakness in dollar and fall in US equities mainly supported yellow metal prices.
Meanwhile, gold rose by another Rs 10 to Rs 27,240 per ten gram at Delhi bullion market on some demand from jewellers amid a firming global trend.
Silver, however, met with resistance and declined by Rs 100 to Rs 41,200 per kg.
Delhi
Gold of 99.9 and 99.5 per cent purity edged higher by Rs 10 each to Rs 27,240 per ten gram and Rs 27,040 per ten gram respectively. It had gained Rs 130 in the last two days.
Sovereign remained flat at Rs 24,400 per piece of 8 gram.
On the other hand, silver ready declined by Rs 100 to Rs 41,200 per kg and weekly-based delivery by Rs 20 to Rs 40,600 per kg. The white metal had gained Rs 675 in the previous three days.
Meanwhile, silver coins maintained steady trend at Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.
International markets
Gold in overseas markets, which normally set price trend on the domestic front, gained by 1 percent to USD 1,273 per ounce.
US gold futures for August delivery ended at USD 1,274 an ounce, up USD 12.80.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: Rs 27,005 / SILVER: Rs 41,605
Delhi
GOLD: Rs 27,240 / SILVER: Rs 41,200
Chennai
GOLD: Rs 27,220/ SILVER: Rs 41,125
Kolkata
GOLD: Rs 27,235/ SILVER: Rs 41,000
Bangalore
GOLD: Rs 27,263/ SILVER: Rs 41,400
Hyderabad
GOLD: Rs 27,460 / SILVER: Rs 42,150
