Mumbai: Gold prices surged again in the commodity market. As per the market experts, the investors turned to precious metal while awaiting signals on interest rate hikes from the US Federal Reserve’s meeting next week.
On the Multi Commodity Exchange (MCX), gold futures were up by 0.20% or Rs 98 at Rs 48,478 per 10 gram. Silver futures declined by 0.32% or Rs 210 at Rs 65,169 per kg.
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In the Kerala market, sovereign gold is trading at Rs 36,520 per 8 gram, higher by 80. One gram gold is priced at Rs 4565, up by Rs 10.
In the international market, spot gold remained firm at $ 1,838.21 per ounce . US gold futures were down 0.2% at $ 1,838.70. Among other precious metals, spot silver was down 0.4% at $ 24.34 an ounce, but is still set for its best week in a year – up about 6% so far. Palladium fell 0.6% to $2,047.0, platinum dropped 0.4% to $ 1,034.98.
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