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Commodity Market: Gold prices edge higher for third day in a row

Mumbai: Sovereign gold price appreciated for third day in a row in Kerala. Sovereign gold is trading at Rs 44,120, up by Rs 120 per 8 gram. Yesterday, the yellow metal gained by Rs 240 per 8 gram.

On the Multi Commodity Exchange (MCX), gold futures were trading up by Rs 12 or 0.02% at Rs 59,490 per 10 gram. Silver futures were trading at Rs 76,100 per kg, lower by Rs 180 or 0.24%. Yesterday, gold  futures had ended with gains of Rs 200 or 0.34% per 10 gram at Rs 59,466 while the silver futures closed higher at Rs 76,222, down by Rs 218 per kg or 0.29%. Gold futures are down 0.15% or by Rs 90 on the month-to-date basis while up 8.11% or by Rs 4,461 on the year-to-date basis. As for Silver futures, the gains are to the tune of 1.13% or Rs 853 in August while the gains this year stand at 9.89% or Rs 6,867.

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On the Comex, Gold futures were trading at $1,972.70 per troy , down by $0.30 or 0.02% while Silver futures were trading at $24.985, lower by $0.119 or 0.470%. Price of spot gold was up 0.2% at $1,946.17 per ounce. U.S. gold futures steadied at $1,973.10. Spot silver was steady at $24.66 per ounce.  Platinum added 0.3% to $977.02 as it heads for its second consecutive monthly gain. Palladium rose 0.5% to $1,228.42, but was set for a 4% monthly fall.

The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, edged 0.1% higher to 890.10 tons.

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