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Commodity Market: Gold price shoots up sharply

Mumbai: Sovereign gold price appreciated sharply in the Kerala market.  Sovereign gold is trading at Rs 45,200, higher by Rs 640 per 8 gram.

On Multi Commodity Exchange (MCX), gold futures were trading at Rs 60,715 per 10 gram, up Rs 87 or 0.14%. Silver futures were trading higher by Rs 145 at Rs 76,393 per kg.

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In the international markets, gold price remained firm above the key $2,000 level. As per market experts, investors were waiting the U.S. Federal Reserve’s interest rate-hike verdict due later in the day. Price of spot gold remained unchanged  $2,016.29 per ounce. U.S. gold futures were up 0.1% at $2,026.10.

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