At the Multi Commodity Exchange (MCX), gold for delivery in June edged higher by Rs 46 to Rs 27,857 per ten grams against its previous close of Rs 27,811.
Similarly, silver for delivery in July traded up by Rs 47 at Rs 43,835 per kg.
Gold price in overseas markets, which normally set price trend on the domestic front, rose about 0.3 percent on the week. It has now posted gains in three of the last four weeks following a historic two-day selloff in mid-April.
Resilient demand for coins and bars and a pullback in the US equities market lifted gold on the day and for the week on Friday.
Spot gold last traded up 0.2 percent at USD 1,388.16 an ounce.
In New York, gold for August delivery gained USD 9.80 or 0.7 percent to settle at USD 1,387.60 an ounce on the Comex division of the NYMEX.
US data on Friday showed consumer sentiment edged off a six-year high in June, while manufacturing output picked up a bit last month after two straight months of declines, suggesting the economy remains on a moderate growth path.
Markets will watch closely the US Federal Reserve policy meeting on June 18 and 19.
Gold prices sank to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.
In Delhi spot market, both the precious metals, gold and silver prices fell back owing to slackened demand at prevailing higher levels amid a weak global trend.
While gold fell by Rs 360 to Rs 28,190 per 10 grams, silver lost by Rs 700 to Rs 44,000 per kg on reduced offtake by jewellery fabricators and industrial units.
Chennai
Standard gold prices declined by Rs 425 to Rs 27,750 per ten grams as against its previous close of Rs 28,175.
Similarly, silver prices dropped by Rs 655 to Rs 43,380 per kg from Rs 44,035.
Delhi
In the national capital, gold of 99.9 and 99.5 percent purity fell by Rs 360 each to Rs 28,190 and Rs 27,990 per 10 grams, respectively. The metal had climbed by Rs 360 yesterday. Sovereigns followed suit and shed Rs 100 to Rs 24,300 per piece of eight grams.
Silver ready dropped by Rs 700 to Rs 44,000 per kg and weekly-based delivery by Rs 625 to Rs 43,285 per kg. The white metal had gained Rs 500 in the previous session.
Silver coins also plunged by Rs 1000 to Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.
Mumbai
Standard gold of 99.5 percent purity was down by Rs 190 to end at Rs 27,670 per 10 gm from Thursday's closing level of Rs 27,860.
Pure gold of 99.9 percent purity lost by Rs 185 to finish at Rs 27,810 per 10 gm from Rs 27,995.
Silver ready (.999 fineness) declined by Rs 275 to close at Rs 44,335 per kg compared to previous closing of Rs 44,610.
Futures Trade (MCX)
At the Multi Commodity Exchange (MCX), gold for delivery in June edged higher by Rs 46 to Rs 27,857 per ten grams against its previous close of Rs 27,811.
Similarly, silver for delivery in July traded up by Rs 47 at Rs 43,835 per kg.
International markets
Spot gold last traded up 0.2 percent at USD 1,388.16 an ounce.
In New York, gold for August delivery gained USD 9.80 or 0.7 percent to settle at USD 1,387.60 an ounce on the Comex division of the NYMEX.
Gold prices sank to around USD 1,321 on April 16, the lowest in more than two years, in a sell-off that surprised ardent gold investors and bulls.
Gold ETF
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.63 percent to 1,003.53 tonnes on Thursday to fresh four-year low.
Here are the city wise gold and silver rates:
(Gold rates per 10 gm/Silver rates per Kg)
Mumbai
GOLD: Rs 27,810 (-185) / SILVER: Rs 44,335 (-275)
Delhi
GOLD: Rs 28,190 (-360) / SILVER: Rs 44,000 (-700)
Chennai
GOLD: Rs 27,750 (-425) / SILVER: Rs 43,380 (-655)
Kolkata
GOLD: Rs 27,955 (-400) / SILVER: Rs 43,550 (-550)
Bangalore
GOLD: Rs 28,077 (-240) / SILVER: Rs 44,200 (- 400)
Hyderabad
GOLD: Rs 28,400 / SILVER: Rs 45,000
NEWS SOURCE:http://zeenews.india.com
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