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Commodity Market: Gold price surge marginally

Mumbai: Gold price surged marginally in the commodity market. Sovereign gold is trading at Rs 41,960, higher by Rs 240 per 8 gram in the Kerala market. The price of yellow metal gained by Rs 1280 per 8 gram in the last four days.

On the Multi Commodity Exchange (MCX), gold l futures were trading at Rs 56,615 per 10 gram, up Rs 465 or 0.83%. Silver futures were trading higher by Rs 760 at Rs 63,650 per kg.

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Globally, the yellow metal prices rose on Monday to their highest in more than five weeks as the US dollar weakened. Spot gold was up 0.5% at $1,877.30 per ounce, after hitting its highest since 3 February earlier in the session at $1,893.96. U.S. gold futures gained 0.8% to $1,882.10.

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