Mumbai: Sovereign gold edged higher sharply in the Kerala market. Sovereign gold is trading at Rs 40,360, up by Rs 400 per 8 gram. Yesterday, the yellow metal suffered a loss of Rs 200 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures were up 0.6% to Rs 55,546 per 10 gram. Silver futures jumped 1.4% to Rs 70,573 per kg. Gold had hit record highs of Rs 56,200 in August 2020.
Also Read: Forex Market: Indian rupee gains against US dollar
In global markets, gold jumped to six-month high with the dollar index remaining steady. A weakness in US dollar makes gold more attractive for overseas buyers. Spot gold was up 0.8% at $1,838.69 per ounce while spot silver rose 1.1% to $24.25. US gold futures rose 0.6% to $1,837.50.
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