Commodity Market: Gold prices edge higher marginally

Mumbai: Sovereign gold prices edged higher marginally in Kerala. Sovereign gold is trading at Rs 42,680, up by Rs 160 per 8 gram.

On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 57,476 per 10 gram, up by Rs 605, or 1.06%. Silver futures were trading at Rs 69,001 per kg, higher by Rs 831 or 1.22%.

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In global markets, price of spot gold jumped 1% to $1,850.87 per ounce. U.S. gold futures climbed 1.1% to $1,865.20 per ounce. Among other metals, spot silver gained 1.6% to $21.94 per ounce, platinum was up 0.6% to $881.83 and palladium rose 0.5% to $1,163.49.

The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.2% to 865.85 metric tons on Friday.