Gold Recovery in India

Gold prices in India was able to recover in its 3rd-day losing by Rs. 100 to reach Rs. 27,000 per ten grams-level in Delhi bullion market Saturday on infrequent buying by retailers at the usual lower levels.

Gold of 99.9% and 99.5% purity increased by Rs. 100 each to Rs. 27,050 and Rs. 26,850 per ten grams.

Analyst said infrequent buying by retailers at attractive lower levels mostly led to recovery in gold prices.

At the Multi Commodity Exchange (MCX), June gold delivery decreased by Rs. 34 to reach Rs. 26,406 per ten grams as in contradiction of its previous close of Rs. 26,440.

Gold prices in overseas markets, which usually set price trend on the domestic front, curved lower as some performers exited positions ahead of a long US weekend, but recorded its biggest weekly percentage improvement in a month, maintained by a drop in stock markets and a weaker dollar.

Chennai

Standard gold price improved by Rs. 30 to reach Rs. 26,765 per ten grams as in contrast to its previous close of Rs. 26,735.
Delhi

In the national capital, gold of 99.9% and 99.5% purity improved by Rs. 100 each to Rs. 27,050 and Rs. 26,850 per ten grams.

In last three sessions it lost Rs. 100. Sovereigns remained to be asked about previous level of Rs. 23,700 per piece of eight grams.

Mumbai

Gold of 99.5% purity increased by Rs. 55 to reach Rs. 26,525 per ten grams from Friday’s closing level of Rs. 26,470.

Gold of 99.9% purity improved by Rs. 30 to reach Rs. 26,655 per ten grams from Rs. 26,625.

Futures Trade (MCX)

At the Multi Commodity Exchange (MCX), June gold delivery decreased by Rs. 34 to reach Rs. 26,406 per ten grams compared to its previous close of Rs. 26,440.