Zee Media Bureau
Gold prices fell by Rs 82 to Rs 28,170 per 10 grams in futures trade Wednesday as participants reduced positions on weak trend overseas amidst subdued demand at domestic spot markets.
At the Multi Commodity Exchange (MCX), gold for delivery in October slipped by Rs 82 to Rs 28,170 per ten grams.
Market analysts said there is a weakening trend in the overseas markets as dollar strengthened, reducing the appeal of the metal and pressuring the gold prices in futures trade.
Gold in overseas markets, which normally set price trend on the domestic front, traded in narrow range today.
Spot gold last traded at USD 1,294.90 an ounce, down 0.02 percent or USD 0.30.
Meanwhile, gold lost Rs 50 to close at Rs 28,500 per 10 grams at Delhi bullion market on easing demand from jewellers and retailers amid weak global cues.
Delhi
Gold of 99.9 and 99.5 percent purity declined further by Rs 50 each to Rs 28,500 and Rs 28,300 per 10 grams, respectively. It had lost Rs 270 in the previous four sessions.
Sovereign traded lower by Rs 100 to Rs 24,700 per piece of eight grams.
In line with a general weak trend, silver ready fell by Rs 300 to Rs 43,000 per kg and weekly-based delivery by Rs 340 to Rs 42,340 per kg. The white metal had gained Rs 420 yesterday.
Silver coins, however, remained steady at Rs 76,000 for buying and Rs 77,000 for selling of 100 pieces.
International markets
Spot gold last traded at USD 1,294.40 an ounce, down 0.22 percent or USD 2.80.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: Rs 28,215 / SILVER: Rs 43,210
Delhi
GOLD: Rs 28,500 / SILVER: Rs 43,000
Chennai
GOLD: Rs 28,510/ SILVER: Rs 42,580
Kolkata
GOLD: Rs 28,440/ SILVER: Rs 42,600
Bangalore
GOLD: Rs 28,497/ SILVER: Rs 43,200
Hyderabad
GOLD: Rs 28,800/ SILVER: Rs 44,500
With agency inputs
