Zee Media Bureau/Ajeet Kumar
Gold posted moderate recovery from its intraday low of Rs 25,755 per ten grams but ended the week below Rs 26,000-mark in futures trade Friday as market participants continued offloading in tandem with a weakening trend overseas.
At the Multi Commodity Exchange (MCX), gold for delivery in August settled down by Rs 112 at Rs 25,863 per ten grams after moving in range of Rs 26,755- Rs 25,988.
Shiv Shrivastava, MD & CEO, IGuru Research opined gold prices may face an upward push and see a range of Rs 25,750- Rs 26,500 per ten grams in the coming week.
Gold in overseas markets, which normally set price trend on the domestic front, ended the week on slightly lower note as the dollar rose after monthly US jobs report underscored expectations of a steady recovery in the US economy.
Spot gold was down 0.08 percent at USD 1,252.26 an ounce, off an earlier low of USD 1,246.5 per ounce.
US gold futures for August delivery settled at USD 1,252.5 an ounce, down 0.06 percent.
Meanwhile, gold prices rose by Rs 70 to Rs 27,250 per ten gram at Delhi bullion market on increased buying by stockists, taking positive cues from the global markets.
Silver prices also spurted by Rs 500 to Rs 41,000 per kg on increased offtake by industrial units and coin makers.
Delhi
Gold of 99.9 and 99.5 percent purity moved up by Rs 70 each to Rs 27,250 and Rs 27,050 per ten gram, respectively, while sovereign remained flat at Rs 24,400 per piece of 8 gram in limited deals.
In line with a general firm trend, silver ready rose by Rs 500 to Rs 41,000 per kg and weekly-based delivery by Rs 475 to Rs 40,275 per kg.
On the other hand, silver coins continued to be enquired at last level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces in restricted deals.
International markets
Spot gold was down 0.08 percent at USD 1,252.26 an ounce, off an earlier low of USD 1,246.5 per ounce. US gold futures for August delivery settled at USD 1,252.5 an ounce, down 0.06 percent.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: Rs 26,675 / SILVER: Rs 41,080
Delhi
GOLD: Rs 27,250 / SILVER: Rs 41,000
Chennai
GOLD: Rs 27,250/ SILVER: Rs 40,875
Kolkata
GOLD: Rs 27,235/ SILVER: Rs 40,600
Bangalore
GOLD: Rs 27,151/ SILVER: Rs 41,000
Hyderabad
GOLD: Rs 27,500 / SILVER: Rs 42,000
