In the commodity market the price of gold has rised to reach near record high. On the Multi Commodity Exchange (MCX), October gold futures rose 0.08% to Rs. 53,490 per 10 gram. Silver futures on MCX rose Rs. 700 or 1.1% to Rs. 65,690 per kg. Gold had surged about Rs. 650 per 10 gram or 1.2% while silver had jumped Rs. 2300 per kg or 3.6% on the previous session. In India, gold prices have surged 35% this year, hitting new highs. In the previous session, gold had hit a high of Rs. 53,700 per 10 gram.
In the Kerala market the price of sovereign gold was down by Rs.8 to reach at Rs. 40,160 per 8 gram.
In global markets, price of spot gold was up 0.1% at US dollar 1,976.47 per ounce, after hitting a record high of Us dollar 1,984 earlier in session. Among other precious metals, silver eased 0.1% to US dollar 24.35 per ounce while palladium dropped 1.1% to US dollar 2,068.98.
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