Zee Media Bureau
New Delhi: Gold prices softened by Rs 60 to Rs 28,670 per 10 grams in futures trade Wednesday as speculators offloaded some of their their positions moving in tandem with a weakening trend overseas.
At the Multi Commodity Exchange (MCX), gold for delivery in October moved lower by Rs 60 or 0.21 percent to Rs 28,670 per ten grams.
Gold in overseas markets, which normally set price trend on the domestic front, traded in narrow range today.
Spot gold last traded at USD 1,306.80 an ounce, down 0.13 percent.
Meanwhile, gold prices recovered by Rs 25 to Rs 28,750 per 10 grams at Delhi bullion market on the back of buying by jewellers for the festive season amidst a firming global trend.
Silver also rebounded by Rs 275 to Rs 44,275 per kg on increased offtake by industrial units and coin makers.
Delhi
Gold of 99.9 and 99.5 percent purity recovered by Rs 25 each to Rs 28,750 and Rs 28,550 per 10 grams, respectively. It had lost Rs 375 in last two days. Sovereign, however, remained steady at Rs 24,800 per piece of eight grams in restricted deals.
In a similar fashion, silver ready rose by Rs 275 to Rs 44,275 per kg and weekly-based delivery by Rs 345 to Rs 43,775 per kg. The white metal had lost Rs 700 in the previous two sessions.
Silver coins continued to be enquired at last level of Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.
International markets
Spot gold last traded at USD 1,306.80 an ounce, down 0.13 percent.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: Rs 28,615 / SILVER: Rs 44,570
Delhi
GOLD: Rs 28,750 / SILVER: Rs 44,275
Chennai
GOLD: Rs 28,990/ SILVER: Rs 44,240
Kolkata
GOLD: Rs 28,900/ SILVER: Rs 44,000
Bangalore
GOLD: Rs 29,000/ SILVER: Rs 44,600
Hyderabad
GOLD: Rs ----/ SILVER: Rs -----
