Mumbai: Price of gold surged in the commodity market. As per market experts, the inflationary pressures supported the yellow metal while market participants awaited the US inflation data.
On the Multi Commodity Exchange (MCX), gold futures surged by 0.08% or Rs 37 to Rs 48,265 per 10 gram. Silver futures slipped down by 0.31% or Rs 195 to Rs 61,840 per kg.
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In the Kerala market, price of sovereign gold reached at Rs 36,320 per 8 gram, higher by Rs 160. One gram gold is trading at Rs 4540, up by Rs 20.
In the international market, spot gold was steady at $ 1,821.26 per ounce. US gold futures were flat at $ 1,821.30. Among other precious metals, silver rose 0.1% to $ 23.01 per ounce, platinum was steady at $ 1,020.06 and palladium rose 0.2% to $ 2,266.79.
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