Mumbai: Price of gold edged higher in the Kerala market. On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 55,940 per 10 gram, up Rs 219 or 0.39%. Silver futures were trading lower by Rs 422 at Rs 64,823 per kg.
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Globally, the yellow metal prices were lower on Monday as central banks indicated further interest rate hikes to combat high inflation. Spot gold was down 0.1% at $1,853.99 per ounce, after climbing to its highest since 15 February on Friday. U.S. gold futures rose 0.3% to $1,859.90.
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