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

Mumbai: Sovereign gold price appreciated in Kerala for second day in a row. Sovereign gold is trading at Rs 42,200, up by Rs 200 per 8 gram. One gram gold is priced at Rs 5275, higher by Rs 25. Yesterday, yellow metal gained by Rs 80 per 8 gram.

On the  Multi Commodity Exchange (MCX), gold futures settled at  Rs 56,898 per 10 gram . Gold futures are down 1.54% or by Rs 885 on the month-to-date basis while they have gained 3.09% or by Rs 1,713 on the year-to-date basis. As for Silver futures, the declines are to the tune of 4.11% or Rs 2,870 in September while the declines this year stand at 3.45% or Rs 2402.

Also Read: Asian Games 2023: Full list of Indian gold medal winners 

In international commodity market, spot gold price finished at $1,832.50 per ounce. U.S. gold futures rose 0.1% to $1,834.10. Spot silver gained 0.3% to $20.96, platinum firmed 0.2% to $856.30 and palladium rose 0.6% to $1,148.

Holdings of  SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.2% to 867.58 metric tonne. It is the lowest since August 2019. On Comex, gold futures were trading at $1,837.50 per troy ounce, up by $5.70 or 0.31% while silver futures were at $21.160, higher by $0.141 or 0.670%.

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