The gold prices surged by Rs 140 to Rs 15,440 per 10 gram in the national capital on March 30. The Silver also followed the same trend and grew by Rs 80 to Rs 22,170 per kg. The buying in gold picked up after reports that the precious metal rose in overseas market, by adding $2.95 at $926.10 an ounce. The Standard gold and ornaments rose by Rs 140 each to Rs 15,440 and Rs 15,290 per 10 gram, respectively. However, the Sovereign remained flat at Rs 12,400 per piece of eight gram. On the other hand, the silver ready surged by Rs 80 to Rs 22,170 per kg and weekly-based delivery by Rs 100 to Rs 22,290 per kg.
Showing posts with label Gold Prices. Show all posts
Showing posts with label Gold Prices. Show all posts
Tuesday, March 31, 2009
Friday, March 27, 2009
Gold Bounces Back After 4-Day Losing Streak- March 27, 2009
After four-day losing streak, the gold prices recovered by Rs 120 per ten grams on the bullion market on Thursday on renewed enquiries from stockists in view of seasonal buying coupled with higher New York advices. The silver also followed the same trend and firmed up on the back of good industrial demand. The gold futures shot up in New York after four session on the back of weaker dollar and rising demand from gold Exchange-traded funds. On the comex division of the New York Mercantile Exchange, the gold for April delivery closed up by $12 an ounce to $935.80. Silver for May delivery also rose to $13.437 an ounce.In the domestic market, the standard gold (99.5 purity) recovered by Rs 120 per ten grams to Rs 15,175 from its previous close of Rs Rs 15,055. Moreover, the pure gold (99.9 purity) also firmed up by a similar margin to Rs 15,245 from Rs 15,125 previously. The silver ready (.999 fineness) grew by Rs 185 per kilo to Rs 22,510 from Rs 22,325.
Monday, March 2, 2009
Gold Prices Snapped - March 2, 2009
On Saturday gold prices snapped its three days losing streak and went up by Rs 175 to close at Rs 15,475 per ten gram in the bullion market in New Delhi. The surge was backed by aggressive buying by stockists and jewellers influenced by a firming global trend.
Buying activity in the precious metal gathered momentum after reports that the metal rebounded in international markets. Gold recorded a rise of 18.20 dollar to $963.70 an ounce. Standard gold and ornaments increased sharply by Rs 175 each to Rs 15,475 and Rs 15,325 per ten gram respectively and sovereign gained Rs 100 at Rs 12,400 per piece of eight gram. A similar firming trend was observed in silver as its prices in domestic market rose by Rs 100 at Rs 21,550 per kg and weekly-based delivery by Rs 155 to Rs 21,815 per kg. Silver coins also surged by Rs 300 to Rs 28,600 for buying and Rs 28,700 for selling of 100 pieces.
Buying activity in the precious metal gathered momentum after reports that the metal rebounded in international markets. Gold recorded a rise of 18.20 dollar to $963.70 an ounce. Standard gold and ornaments increased sharply by Rs 175 each to Rs 15,475 and Rs 15,325 per ten gram respectively and sovereign gained Rs 100 at Rs 12,400 per piece of eight gram. A similar firming trend was observed in silver as its prices in domestic market rose by Rs 100 at Rs 21,550 per kg and weekly-based delivery by Rs 155 to Rs 21,815 per kg. Silver coins also surged by Rs 300 to Rs 28,600 for buying and Rs 28,700 for selling of 100 pieces.
Thursday, February 26, 2009
Gold Prices Are Expected To Touch Rs 17,000 - Feb 26, 2009
Gold prices are expected to touch Rs 17,000 per 10 grams by August, an industry body said on Feb 25. In the same way, silver prices would also climb to Rs 24,000 a kg by the same time, as assessment study by industry body Assocham said. Since global financial crises has diminished investment opportunities in stocks, mutual funds, government securities and bonds, investments in gold and silver would continue to grow and restrict at Rs 17,000 per 10 grams and Rs 24,000 a kg, respectively by August 2009, it said.
Nevertheless, gold and silver would subside to fall to realistic levels of Rs 12,000 per 10 gram and less than Rs 17,000 a kg by January 2010 onwards, it pointed out. The assessment on ''Prospects of Bullion Trade'' for the next six months, carried out by Bullion Trade Committee headed by bullion expert S K Jindal, anticipated that peak crisis in stocks, realty and other secured markets would gradually start fading away by August and until then, gold and silver will continue to lure investors for their surpluses. In March, the average gold price would go up to Rs 15,750 per 10 gram, while silver would stray at around Rs 23,000 a kg, it said.
Nevertheless, gold and silver would subside to fall to realistic levels of Rs 12,000 per 10 gram and less than Rs 17,000 a kg by January 2010 onwards, it pointed out. The assessment on ''Prospects of Bullion Trade'' for the next six months, carried out by Bullion Trade Committee headed by bullion expert S K Jindal, anticipated that peak crisis in stocks, realty and other secured markets would gradually start fading away by August and until then, gold and silver will continue to lure investors for their surpluses. In March, the average gold price would go up to Rs 15,750 per 10 gram, while silver would stray at around Rs 23,000 a kg, it said.
Wednesday, February 25, 2009
Gold Prices Broke Its Increasing Trend - Feb 25, 2009
On Feb 24, gold prices broke its increasing trend and dropped slightly by Rs 40 per ten grams to Rs 15,705 on account of selling pressure from stockists in view of weak overseas advices. However, silver prices, went up amrginally on mild industrial demand.
According to the dealers, prices of gold affected by the lack of buying interest at higher levels coupled with lower global advices. On Feb 23, gold futures fell in New York on profit- taking after its recent rally that had sent prices above $1,000 an ounce. Gold for February ended down by $7.20 an ounce to $994.60 an ounce on the Comex Division of the New York Mercantile Exchange. Silver March delivery ended lower at $14.45 an ounce. Turning to the local market, standard gold (99.5 purity) fell by Rs 40 per ten grams to Rs 15,705 from the last weekend''s level of Rs 15,745. Pure gold (99.9 purity) also moved down to Rs 15,780 from Rs 15,810. However, silver ready (.999 fineness) edged up to Rs 23,235 per kilo from Rs 23,230 previously.
According to the dealers, prices of gold affected by the lack of buying interest at higher levels coupled with lower global advices. On Feb 23, gold futures fell in New York on profit- taking after its recent rally that had sent prices above $1,000 an ounce. Gold for February ended down by $7.20 an ounce to $994.60 an ounce on the Comex Division of the New York Mercantile Exchange. Silver March delivery ended lower at $14.45 an ounce. Turning to the local market, standard gold (99.5 purity) fell by Rs 40 per ten grams to Rs 15,705 from the last weekend''s level of Rs 15,745. Pure gold (99.9 purity) also moved down to Rs 15,780 from Rs 15,810. However, silver ready (.999 fineness) edged up to Rs 23,235 per kilo from Rs 23,230 previously.
Thursday, January 29, 2009
Gold Prices Fell Down - Jan 29, 2009
Gold prices fell by Rs 240 to Rs 13,900 per 10 gram on Wednesday on the back of heavy selling by stockists due to weakening overseas trend as well as the traders squaring up pending positions in futures markets. On the other hand, the silver also dropped by Rs 200 to Rs 19,000 per kg. The gold dropped in London ahead of the decision of the US Federal Reserve on interest rate. However, the sentiment turned more bearish as the gold in futures trading fell sharply on the eve of settlement as market participants indulged in unwinding their long pending positions.
The silver ready slipped by Rs 200 at Rs 19,000 per kg and weekly-based delivery by Rs 230 at Rs 19,240 per kg. The silver coins were Rs 27,500 for buying and Rs 27,600 for selling of 100 pieces. In line with this, the standard gold and ornaments fell by Rs 240 each at Rs 13,900 and Rs 13,750 per 10 gram, respectively.
The silver ready slipped by Rs 200 at Rs 19,000 per kg and weekly-based delivery by Rs 230 at Rs 19,240 per kg. The silver coins were Rs 27,500 for buying and Rs 27,600 for selling of 100 pieces. In line with this, the standard gold and ornaments fell by Rs 240 each at Rs 13,900 and Rs 13,750 per 10 gram, respectively.
Wednesday, January 28, 2009
Gold Prices Hit A Record High - Jan 28, 2009
The gold prices surged Rs 40 to hit a record high of Rs 14,140 per 10 gram in the national capital on Tuesday backed by increased buying by stockists, which was driven by firming global trend after the US dollar weakened.
The standard gold and ornaments grew by Rs 40 each to close at a new high of Rs 14,140 and Rs 13,990 per 10 gram respectively. The sovereign held steady at Rs 11,000 per piece of 8 gram. However, the gold in Asian trading advanced by 0.3 per cent to $905.98 an ounce. On the other hand, Silver was up by Rs 200 to Rs 19,200 per kg, while the weekly-based delivery by Rs 220 to Rs 19,470 per kg. In line with this, the silver coins ruled flat at Rs 27,500 for buying and Rs 27,600 for selling of 100 pieces.
The standard gold and ornaments grew by Rs 40 each to close at a new high of Rs 14,140 and Rs 13,990 per 10 gram respectively. The sovereign held steady at Rs 11,000 per piece of 8 gram. However, the gold in Asian trading advanced by 0.3 per cent to $905.98 an ounce. On the other hand, Silver was up by Rs 200 to Rs 19,200 per kg, while the weekly-based delivery by Rs 220 to Rs 19,470 per kg. In line with this, the silver coins ruled flat at Rs 27,500 for buying and Rs 27,600 for selling of 100 pieces.
Friday, January 23, 2009
Gold Prices Fell - Jan 23, 2009
Gold prices fell by Rs 125 per ten grams to end at Rs 13,485 on the bullion market in Mumbai on Thursday following a fresh bout of selling from stockists on the back of a weak overseas trend. In the domestic market, the standard gold (99.5 purity) slipped by Rs 125 per ten grams to Rs 13,485 from previous close of Rs 13,610. In line with this, the Pure gold (99.9 purity) also dropped by Rs 120 per ten grams to Rs 13,550 from its overnight close of Rs 13,670. The Silver ready (.999 fineness) fell by Rs 130 per kilo to Rs 18,820 from Rs 18,950 previously.
In London, spot gold was quoted at $850.40/852.00 an ounce down from $854.05 an ounce late in New York. Silver also moved down to $11.23/11.29 an ounce from $11.31 an ounce.
The world''s largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holding rose to a record 805.96 tonnes of gold as on January 21, up 3.06 tonnes from 802.90 tonnes on January 20.
In London, spot gold was quoted at $850.40/852.00 an ounce down from $854.05 an ounce late in New York. Silver also moved down to $11.23/11.29 an ounce from $11.31 an ounce.
The world''s largest gold-backed exchange-traded fund, the SPDR Gold Trust, said its holding rose to a record 805.96 tonnes of gold as on January 21, up 3.06 tonnes from 802.90 tonnes on January 20.
Wednesday, January 21, 2009
Gold Prices Fell - Jan 21, 2009
Gold prices on Jan 20 fell by Rs 50 to close at Rs 13,320 per ten gram in the bullion market here backed by sustained selling influenced by a weak global markets and an off marriage and festival season. The standard gold and ornaments dropped by Rs 50 each at Rs 13,320 and Rs 13,170 per ten gram respectively. The sovereign also lost Rs 25 at Rs 10,725 per piece of eight gram. Apart from this, the silver ready dropped by Rs 90 at Rs 18,260 per kg and weekly-based delivery at Rs 18,160 per kg. In line with this, the silver coins continued to be asked at previous level of Rs 26,900 for buying and Rs 27,000 for selling of 100 pieces.
Marketmen said that the weakening trend in international bullion markets, which normally set prices in domestic markets here, recorded a loss of 11.71 dollar to 824.19 dollar an ounce. On the top of this the trading sentiment also turned weak following the reports that the precious metal in London declined for a second day due to strengthening of the dollar along with extended declines of crude oil, eroding the metal''s appeal as an alternative investment to the US currency and inflation hedge.
Marketmen said that the weakening trend in international bullion markets, which normally set prices in domestic markets here, recorded a loss of 11.71 dollar to 824.19 dollar an ounce. On the top of this the trading sentiment also turned weak following the reports that the precious metal in London declined for a second day due to strengthening of the dollar along with extended declines of crude oil, eroding the metal''s appeal as an alternative investment to the US currency and inflation hedge.
Friday, January 16, 2009
Gold Is Likely To Become More Costly - Jan 16, 2009
This year, the gold is likely to become more costly and in the first half of 2009, may touch an all-time high due to expected surge in investments, a report says. The main motivation behind this expected surge in investment is risk aversion and a desire to preserve wealth, as illustrated in its focus being physical bullion or allocated metal accounts, GFMS said in a report.
The consultancy said there has already been demand particularly from high net worth and retail investors for several months, mainly in Europe and North America. But it was masked by heavy fund redemptions as cash has been sought to cover losses elsewhere and meet margin.
GFMS Ltd is a leading precious metals consultancy, which specializing in research into the global gold, silver, platinum and palladium markets. In August 2007, the gold was almost 650 dollars an ounce and in March 2008, it breached $1,000 level an ounce.
The consultancy said there has already been demand particularly from high net worth and retail investors for several months, mainly in Europe and North America. But it was masked by heavy fund redemptions as cash has been sought to cover losses elsewhere and meet margin.
GFMS Ltd is a leading precious metals consultancy, which specializing in research into the global gold, silver, platinum and palladium markets. In August 2007, the gold was almost 650 dollars an ounce and in March 2008, it breached $1,000 level an ounce.
Thursday, January 15, 2009
Gold Recovers - Jan 15, 2009
Gold on Wednesday recovered yesterday by rising Rs 50 at Rs 13,200 per 10 gram in the national capital backed by festival buying amid firming global trend. Gold rose on the back of fresh buying by retail customers for the ''Makarsankranti'' festival. However, the yellow metal in Singapore rose 0.6 per cent at 826.74 dollar an ounce while the silver added 0.5 per cent to 10.81 dollar an ounce.
On the other hand, the silver also grew by Rs 130 to Rs 18,050 per kg. The silver ready inched up by Rs 130 to Rs 18,050 per kg and the weekly-based delivery by Rs 100 at Rs 17,860 per kg. In line with this, the silver coins also grew by Rs 100 at Rs 26,900 for buying and Rs 27,000 for selling of 100 pieces. On the top of this, the standard gold and ornaments inched up by Rs 50 each at Rs 13,200 and Rs 13,050 per 10 gram respectively.
On the other hand, the silver also grew by Rs 130 to Rs 18,050 per kg. The silver ready inched up by Rs 130 to Rs 18,050 per kg and the weekly-based delivery by Rs 100 at Rs 17,860 per kg. In line with this, the silver coins also grew by Rs 100 at Rs 26,900 for buying and Rs 27,000 for selling of 100 pieces. On the top of this, the standard gold and ornaments inched up by Rs 50 each at Rs 13,200 and Rs 13,050 per 10 gram respectively.
Wednesday, January 14, 2009
Gold Prices Fell - Jan 14, 2009
The prices of gold fell Rs 350 to Rs 13,150 per 10 gram in the national capital yesterday backed by hectic selling by stockists due to weak global trend as well as drying up of retail buying. On the other hand, the silver also declined by Rs 570 to Rs 17,920 per kg. The metal suffered huge losses after its prices for the third straight day fell in London due to strengthening of dollar against euro along with the fall in oil prices.
The traders said that the restricted buying by retail customers added to the fall as buying for “Makarsakranti'''' is almost over amid off marriage season. In line with this, they said the metal in overseas markets recorded a hefty loss of 37.70 dollar an ounce at 815.20 dollar as euro fell against the dollar on speculation that the European Central Bank will cut interest rates.
Silver for ready delivery tumbled by Rs 570 at Rs 17,920 per kg and weekly-based delivery by Rs 600 at Rs 17,760 per kg. Along with this, the silver coins slipped by Rs 200 to Rs 26,300 for buying and Rs 26,900 for selling of 100 pieces. On the top of this, the standard gold and ornaments dropped by Rs 350 each at Rs 13,150 and Rs 13,000 per 10 gram, respectively.
The traders said that the restricted buying by retail customers added to the fall as buying for “Makarsakranti'''' is almost over amid off marriage season. In line with this, they said the metal in overseas markets recorded a hefty loss of 37.70 dollar an ounce at 815.20 dollar as euro fell against the dollar on speculation that the European Central Bank will cut interest rates.
Silver for ready delivery tumbled by Rs 570 at Rs 17,920 per kg and weekly-based delivery by Rs 600 at Rs 17,760 per kg. Along with this, the silver coins slipped by Rs 200 to Rs 26,300 for buying and Rs 26,900 for selling of 100 pieces. On the top of this, the standard gold and ornaments dropped by Rs 350 each at Rs 13,150 and Rs 13,000 per 10 gram, respectively.
Wednesday, October 8, 2008
Strong Global Cues Gold Prices - Oct 8, 2008
Tracking strong global cues gold prices today rose by Rs 520 to close at Rs 13,400 per ten gram in the bullion market in New Delhi on festive buying and melting stock markets attracting investors looking for safe haven.Standard gold shot up by Rs 520 at Rs 13,400 and Rs 13,250 per ten gram respectively. Sovereign also rose by Rs 100 at Rs 10,600 on emergence of buying for festivals.There was negligble demand for gold, as it remained weak in last few session on reduced offtake, they said and added that today''s surge brought back the metal to a level seen on the first ''Navratras'', on October 30.In Hindu mythology, ten days of ''Navratras'' is considered to be an auspicious period to make purchases in precious metals such as silver and gold.The upsurge was partly supported by a firming trend in international bullion markets on similar ground as global stock markets led by the US, nearly crashed on panic selling.
The US Dow Jones Average index dipped below 10,000 points, first time in four years and Japan''s Nikeei index to five year lows. Firming US currency was another boosting factor for the dollar-priced precious metals. In London, gold advanced for a second day, buoyed by demand for the metal as a haven as equities continued to slide.
The US Dow Jones Average index dipped below 10,000 points, first time in four years and Japan''s Nikeei index to five year lows. Firming US currency was another boosting factor for the dollar-priced precious metals. In London, gold advanced for a second day, buoyed by demand for the metal as a haven as equities continued to slide.
Subscribe to:
Posts (Atom)
