Tag: gold price in india

Gold price glitters an rises to Rs 27,600 strong global cues

Gold regained its sheen with prices rising by Rs 360 to Rs 27,600 per ten grams in the national capital on Friday after it surged to two-week high in global markets amid increased demand from stockists.

In addition, depreciating rupee in the forex market, which makes imports costlier, also influenced the prices.

Silver also saw a hefty rise of Rs 900 to Rs 42,100 per kg on increased offtake by industrial units and coin makers.

Sentiments turned bullish after gold rose to two-week high in global markets as concerns that a US recovery may be stalling and escalating tensions in Iraq boosted demand for the safe-haven, traders said.

Gold in Singapore, which normally sets price trend on the domestic front, rose 0.2 per cent to USD 1,275.65 an ounce, the highest level since May 27 and silver by 0.5 per cent to USD 19.63 an ounce, the highest since May 26.

In Delhi, gold of 99.9 and 99.5 per cent purity went up by Rs 360 each to Rs 27,600 and Rs 27,400 per ten grams, respectively, while sovereign gained Rs 100 to Rs 24,500 per piece of eight grams.

In line with a general firm trend, silver ready spurted by Rs 900 to Rs 42,100 per kg and weekly-based delivery by Rs 770 to Rs 41,370 per kg.

Silver coins also flared up by Rs 2,000 to Rs 77,000 for buying and Rs 78,000 for selling of 100 pieces.

June 14, 2014
Gold price remains up on sustained buying; silver recovers

New Delhi: Gold prices advanced further by Rs 120 to Rs 30,250 per 10 grams in the national capital Thursday on sustained buying by stockists and jewellers to meet the ongoing marriage season demand.

Silver also recovered by Rs 200 to Rs 43,200 per kg on increased offtake by industrial units.

Bullion merchants said sustained buying by stockists and jewellers to meet the ongoing wedding season demand mainly kept gold prices higher.

On the domestic front, gold of 99.9 and 99.5 percent purity advanced by Rs 120 each to Rs 30,250 and Rs 30,050 per 10 grams, respectively. It had gained Rs 130 yesterday.

Sovereign continued to be asked at last level of Rs 25,000 per piece of eight grams.

Silver ready recovered by Rs 200 to Rs 43,200 per kg and weekly-based delivery by Rs 210 to Rs 42,240 per kg. The white metal had lost Rs 900 in the previous two sessions.

Meanwhile, silver coins maintained steady trend at Rs 81,000 for buying and Rs 82,000 for selling of 100 pieces.

April 18, 2014
India Gold Rate Today Update

Gold price in overseas markets, moved marginally lower on Friday but logged its biggest weekly gain in nearly two years on easing fears of an early end to US monetary stimulus that has boosted bullion’s appeal as a hedge against inflation.

The metal has gained 7.8 percent for the week, its biggest weekly climb since October 2011 when it rose 6.2 percent.

The metal rallied after Fed Chairman Ben Bernanke on Wednesday said a highly accommodative policy was needed for the foreseeable future as inflation remains low and the employment rate may be overstating the health of the labour market.

Minutes from the June Fed policy meeting also showed that about half of the bank’s policymakers felt the stimulus programme should be brought to a halt by year end, but many wanted reassurance the US jobs recovery was on solid ground before any policy retreat.

Spot gold last traded down 0.2 percent at USD 1,282.06 an ounce, snapping a four-day winning streak.

In New York, gold for August delivery edged lower USD 2.30 or 0.2 percent to settle at USD 1,277.60 an ounce on the Comex division of the NYMEX. For the week, prices were 5.4 percent up. That was their first weekly gain in four weeks, and the biggest weekly percentage climb since the week ended Oct. 28, 2011.

In Delhi spot market, gold and silver prices extended losses in the national capital Saturday on sustained selling by stockists amid a weakening global trend.

While gold fell by Rs 50 to Rs 27,250 per ten grams, silver shed Rs 120 to Rs 41,410 per kg.

In the national capital, gold of 99.9 and 99.5 percent purity fell further by Rs 50 each to Rs 27,250 and Rs 27,050 per ten grams, respectively. It had shed Rs 25 yesterday. Sovereign followed suit and traded lower by Rs 50 to Rs 24,150 per piece of eight grams.

In line with a general weak trend, silver declined by Rs 120 to Rs 41,410 per kg and weekly-based delivery by Rs 70 to Rs 41,460 per kg. The white metal had lost Rs 220 in last trade.

On the other hand, silver coins held steady at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces in restricted buying at prevailing higher levels.

July 17, 2013
Gold price in India: Price falls below Rs 26000, set to fall further

Gold price in New Delhi plunged below Rs 26000 on June 26, 2013. The price has now touched to its near 3-year low level, depriving the investor’s of their confidence.

Evidencing a weak global trend, the speculators offloaded their positions. The gold price has now dipped by Rs 728 to Rs 25,831 per 10 grams in the futures trade on Wednesday.

The Report depicts that the strategy laid out by Fed Chairman Ben Bernanke on Wednesday to knock off the Bank’s USD 85 billion monthly bond purchases for recovering the economy has made the Bullion prices to slide down gradually.

The gold price in the Foreign markets has hit 3-year low falling for the seventh time out of eight because of the boosted stocks and the Federal Reserve’s plan to ramp up its bond purchases in the further months. Check the latest gold price here.

The reports say that the gold prices in Singapore, dropped nearly by 2.6% to USD 1,224. These causes have laid down the declining trend from the beginning of the last week which is about USD 113 per ounce.

The market analysts are of the opine that investors have weighed the prospect of the reduced monetary stimulus by the US Federal Reserve and the retarded growth in China which inturn has made the Aurum metal decline in the oversea markets.

The futures gold for August delivery in New York has declined by USD 2 which is 0.1 Percent and it has concord at USD 1,25.10 yesterday in the comex division of NYMEX.

It is reported in the US Magazine report that the spot gold is trading at USD 1,236.20 an ounce which is down by USD 42.40 or 3.32 percent. Silver also fell over 2 percent to its lowest.

Reports say that the gold rate in India for delivery in August fell by Rs 728 to Rs 25,831 per ten grams as against its previous close of Rs 26,559. Silver for delivery in July moved lower by Rs 1,686 to Rs 38,977 per kg.

June 28, 2013