Zee Media Bureau
Amid a weakening global trend, gold price weakened by Rs 40 to Rs 25,800 per ten grams at Delhi bullion market Thursday, tracking a weak trend overseas amid sluggish demand from jewellers at prevailing levels.
However, silver recovered by Rs 100 to 34,300 per kg on increased offtake by industrial units and coin makers.
In a similar fashion, gold futures at the Multi Commodity Exchange (MCX) traded down today as speculators cut down their bets.
Gold for delivery in February shed Rs 66 or 0.26 percent to Rs 25,536 per 10 grams.
Analysts said overnight losses in gold in global market ahead of next week's meeting of the Federal Reserve which will probably hike interest rates for the first time since 2006, damping the allure of the metal which does not pay interest, mainly kept pressure on the precious metal here.
Besides, fall in demand from jewellers at the domestic physical markets too influenced gold prices, they said.
Globally, gold fell 0.20 percent to USD 1,072.50 an ounce in New York yesterday, while it was trading 0.12 percent higher at USD 1,073.80 an ounce in London today.
Gold latest price in major Indian cities:
Mumbai
Standard gold (99.5 purity) fell by Rs 150 to finish at Rs 25,305 per 10 grams from yesterday's closing level of Rs 25,455. Pure gold (99.9 purity) also declined by a similar margin to end at Rs 25,455 per 10 grams as compared to Rs 25,605.
Silver (.999 fineness) also dipped by Rs 310 per kg to finish at Rs 34,420 from Rs 34,730 earlier.
Kolkata: Gold: Rs 25,780 per 10 grams; Silver: Rs 34,050 per kg
Chennai: Gold: Rs 25,730 per 10 grams; Silver: Rs 34,155 per kg
Bangalore: Gold: Rs 25,754 per 10 grams; Silver: Rs 34, 700 per kg
