Mumbai: Price of gold edged higher in the commodity market. On Multi Commodity Exchange (MCX), gold futures opened at Rs 59,264 per 10 gram.
In Kerala, price of sovereign gold remained unchanged. Sovereign gold is trading at Rs 44,000 per 8 gram. Yesterday, gold price gained by Rs 280 per 8 gram.
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Gold prices were set for their biggest weekly gain since April. The weakening of the U.S. dollar has supported the yellow metal. Price of spot gold was steady at $1,958.45 per ounce, up 1.8% for the week. U.S. gold futures were almost unchanged at $1,963.00. Price of spot silver fell 0.2% to $24.814 per ounce, platinum shed 0.4% to $968.65 and palladium dropped 1.4% to $1,277.35.
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