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Zee Media Bureau/Ajeet Kumar
Moving ahead by Rs 84 from their previous day’s closing levels, gold prices ended the week at Rs 29,462 per ten grams in futures trade Friday.
Read more on Gold 2014 Outlook
At the Multi Commodity Exchange (MCX), gold for delivery in April climbed by Rs 84 to settle at Rs 29,462 per ten grams after moving in range of Rs 29,255 – Rs 29,584.
Similarly, silver for delivery in March gained by Rs 89 to Rs 43,309 per Kg.
Gold in overseas markets, which normally set price trend on the domestic front, snapped its 5-week winning streak on strong US economic growth and a fall in Chinese demand.
Concerns over the US Federal Reserve’s withdrawal of monetary stimulus also weighed on prices.
Spot gold last traded up USD 2.80 or 0.23 percent at USD 1,246.90 an ounce after a 2 percent drop on Thursday.
In New York, gold for February delivery slipped by USD 2.70 to settle at USD 1,239.80 an ounce on the Comex division of the NYMEX.
Read more on Commodity Market 2014 Outlook
Meanwhile, gold prices recovered by Rs 60 to Rs 30,350 per 10 grams at Delhi bullion market Saturday on stockists buying for seasonal demand amid a firm global trend.
However, silver held steady at Rs 43,600 per kg on lack of buying support from industrial units and coin makers.
Delhi
Gold of 99.9 and 99.5 percent purity gained Rs 60 each to Rs 30,350 and Rs 30,150 per 10 grams, respectively. It had lost Rs 310 yesterday. Sovereign, however, continued to be asked at last level of Rs 25,250 per piece of eight grams in limited deals.
On the other hand, silver ready held steady at Rs 43,600 per kg while weekly-based delivery shed Rs 15 to Rs 43,300 per kg. The white metal had lost Rs 900 in last trade.
Silver coins dropped by Rs 1,000 to Rs 85,000 for buying and Rs 86,000 for selling of 100 pieces.
International markets
Spot gold last traded up USD 2.80 or 0.23 percent at USD 1,246.90 an ounce after a 2 percent drop on Thursday.
In New York, gold for February delivery slipped by USD 2.70 to settle at USD 1,239.80 an ounce on the Comex division of the NYMEX.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: Rs 30,100 / SILVER: Rs 44,450
Delhi
GOLD: Rs 30,350 (+60) / SILVER: Rs 43,600 (unchanged)
Chennai
GOLD: Rs 29,950/ SILVER: Rs 43,415
Kolkata
GOLD: Rs 29,915/ SILVER: Rs 43,400
Bangalore
GOLD: Rs 30,255/ SILVER: Rs 44,000
Hyderabad
GOLD: Rs 30,200 / SILVER: Rs 44,100
First Published: Saturday, February 01, 2014, 21:35
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