Mumbai: Price of gold surged in the commodity market. According to the market experts, investors are shifting from riskier assets to precious metals due to rising fuel prices and high inflation.
On the Multi Commodity Exchange (MCX), gold futures surged by 0.48% or Rs 251 to Rs 52,021 per 10 gram. Silver futures were trading up 0.45% or Rs 306 at 68,247 a kilogram.
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In the Kerala market, price of sovereign gold surged to one-month high of Rs 38,160 per 8 gram, up by Rs 320. One gram gold is trading at 4770, higher by Rs 40.
In the international market, spot gold is trading at $1,927.18 per ounce while U.S. gold futures rose 0.4% to $1,929.90.
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