Mumbai: Price of sovereign gold edged lower sharply in Kerala market. Sovereign gold is trading at Rs 44,080, down by Rs 280 per 8 gram. In the last two days, the yellow metal gained by Rs 360 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 59,510 per 10 gram, up Rs 107 or 0.18%. Silver futures were trading at Rs 73,879, higher by Rs 132 or 0.18%. Gold and silver futures ended with sharp declines in the previous session. While gold fell by over Rs 500 or 0.84%, silver futures fell by 2.05% or by Rs 1,545.
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On the Comex, Gold futures were trading at $1,949.20 per troy ounce, up by $3.50 or 0.54% while Silver futures trading at $24.285, lower by $0.082 or 0.340%. In the global markets, price of spot gold was up 0.2% at $1,948.24 per ounce . It has declined 0.5% so far in the week, heading for its biggest weekly fall since June 23. U.S. gold futures rose 0.1% to $1,947.30 per ounce. Other precious metals were set for weekly declines as well. Price of spot silver remained firm at $24.14, platinum held at $936.33, and palladium rose 0.1% to $1,241.28.
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