Commodity Market: Gold price edge higher for second day in a row

Mumbai: Price of yellow metal edged higher for second day in a row. Price of sovereign gold surged by Rs 400 per 8 gram in the Kerala market. Yesterday, the precious metal gained by Rs 160 per 8 gram. Sovereign gold is trading at Rs 37,200 per 8 gram.

Gold prices in other markets were up to Rs 50,360 for 24-carat gold (10 grams), while for 22-carat gold (10 grams) it was Rs 46,160. Silver is trading at Rs 58,000 per kilogram.

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In the international market, gold prices were flat. Spot gold remained firm at $1,671.60 per ounce. US gold futures ticked 0.1% higher to $1,682.80.