Zee Media Bureau/Ajeet Kumar
Making a hefty gain of Rs 853 from its intra-day low of Rs 26,800, gold prices finally ended higher by Rs 785 to Rs to Rs 27,611 per ten grams in futures trade Thursday as market participants enlarged their positions in tandem with a firmimg trend overseas.
At the Multi Commodity Exchange (MCX), gold for delivery in August climbed by Rs 785 to close at Rs 27,611 per ten grams after moving in range of Rs 26,800- Rs 27,653.
Gold in overseas markets, which normally set price trend on the domestic front, surged over 3 percent for its best day in 9 months as the Federal Reserve's lack of commitment to raise interest rates and continued tensions in the Middle East unleashed a wave of short covering.
Spot gold last quoted up 3 percent at USD 1,315.90 an ounce, having earlier hit USD 1,321.70, a two-month high.
US gold futures for August delivery ended at USD 1,314.10 an ounce, up USD 41.40.
Meanwhile, gold prices fell by Rs 30 to Rs 28,020 per ten gram at Delhi bullion market owing to slackened demand from jewellers even as the metal edged up in global markets.
However, silver continued its rising trend on sustained buying by coin makers and rose further by Rs 200 to Rs 43,100 per kg.
Delhi
Gold of 99.9 and 99.5 percent purity declined by Rs 30 each to Rs 28,020 and Rs 27,820 per ten gram respectively. It had gained Rs 150 yesterday. Sovereign, however, held steady at Rs 24,600 per piece of 8 gram in limited deals.
On the other hand, silver (ready) advanced by Rs 200 to Rs 43,100 per kg and weekly-based delivery by Rs 310 to Rs 42,480 per kg. The white metal had gained Rs 300 in yesterday's trade.
Meanwhile, silver coins continued to be sought after at the last level of Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.
International markets
Spot gold last quoted up 3 percent at USD 1,315.90 an ounce, having earlier hit USD 1,321.70, a two-month high. US gold futures for August delivery ended at USD 1,314.10 an ounce, up USD 41.40.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: Rs 27,720 / SILVER: Rs 43,365
Delhi
GOLD: Rs 28,020 / SILVER: Rs 43,100
Chennai
GOLD: Rs 27,980/ SILVER: Rs 43,255
Kolkata
GOLD: Rs 28,040/ SILVER: Rs 42,700
Bangalore
GOLD: Rs 28,094/ SILVER: Rs 43,600
Hyderabad
GOLD: Rs 28,200 / SILVER: Rs 43,000
