Zee Media Bureau/Ajeet Kumar
Gold prices fell by Rs 173 but managed to end the week above Rs 28,000 level in futures trade Friday as market participants offloaded their positions in tandem with a weakening trend overseas.
At the Multi Commodity Exchange (MCX), gold for delivery in August declined by Rs 173 or 0.61 percent to close at Rs 28,026 per ten grams.
Gold in overseas markets, which normally set price trend on the domestic front, slipped by 0.6 percent to USD 1,309.87 an ounce after rising 1.5 percent on Thursday, its biggest gain in a month.
US gold futures for August delivery ended at USD 1,309.40 an ounce, down USD 7.50.
Meanwhile, gold prices rose further by Rs 150 to Rs 28,500 per ten gram at Delhi bullion market, tracking robust international markets as investors took shelter in precious metal on fears that Ukraine crisis would deepen.
Silver also gained by Rs 500 to Rs 45,500 per kg on increased offtake by industrial units and coin makers.
Delhi
Gold of 99.9 and 99.5 percent purity advanced by Rs 150 each to Rs 28,500 and Rs 28,300 per ten grams respectively. It had gained Rs 175 yesterday.
Sovereign followed suit and moved up by Rs 100 to Rs 24,900 per piece of eight gram.
In a similar fashion, silver ready rose further by Rs 500 to Rs 45,500 per kg and weekly-based delivery by Rs 405 to Rs 45,340 per kg. The white metal had gained Rs 150 in the previous session.
Silver coins, however, held steady at Rs 80,000 for buying and Rs 81,000 for selling of 100 pieces.
International markets
Gold in overseas markets, which normally set price trend on the domestic front, slipped by 0.6 percent to USD 1,309.87 an ounce after rising 1.5 percent on Thursday, its biggest gain in a month.
US gold futures for August delivery ended at USD 1,309.40 an ounce, down USD 7.50.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: Rs 28,230 / SILVER: Rs 45,600
Delhi
GOLD: Rs 28,500 / SILVER: Rs 45,500
Chennai
GOLD: Rs 28,550/ SILVER: Rs 45,600
Kolkata
GOLD: Rs 28,620/ SILVER: Rs 45,250
Bangalore
GOLD: Rs 28,550/ SILVER: Rs 45,900
Hyderabad
GOLD: Rs 28,800 / SILVER: Rs 46,000
