In the commodity market the price of sovereign gold is surging up to touch a record high.
On the multi commodity Exchange (MCX), August gold futures rose 0.14% to Rs. 48,830 per 10 gram while silver futures were up 0.12% to Rs. 50,423 per kg. Domestic gold prices, which include 12.5% import duty and 3% GST, hit a record high of Rs. 48,825 per 10 gram in the previous session after they surged over 1%, in tandem with a rally in global markets.
In the international market, spot gold edged up 0.1% at $1,782.21 per ounce, after hitting its US dollar 1,785.46 in the previous session – highest since October 2012. Among other precious metals, platinum rose 0.7% to US dollar 822.50 and silver gained 0.6% at US dollar 18.24.
In the bullion market the price of sovereign gold has rised by Rs. 360 for 8 gram to reach at Rs.36,160. Gold is priced at Rs. 4520 per gram.
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