Mumbai: Price of sovereign gold edged lower for second day in a row in Kerala. Sovereign gold is trading at Rs 43,960, down by Rs 120 per 8 gram. One gram gold is priced at Rs 5495, down Rs 15. Yesterday, yellow suffered a loss of Rs 240 per 8 gram.
On the Multi Commodity exchange (MCX), gold futures fell for the second session. Gold futures were trading at Rs 59,045 per 10 gram, down by Rs 121, or 0.20%. Silver futures were trading at Rs 70,785 per kg, lower by Rs 252 or 0.58%. Both gold and silver gained over 4% in the week gone by.
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In global markets, price of spot gold dropped 0.2% to $1,916.20 per ounce. U.S. gold futures fell 0.2% to $1,929.90. On Comex, Gold futures were trading at $1,929.20 per troy ounce on Tuesday, down by $12.30 or 0.63% while silver futures were at $22.725, higher by $0.170 or 0.74%. Price of spot silver eased 0.2% to $22.55 per ounce, platinum was steady at $890.81 and palladium rose 0.1% to $1,144.96.
Holdings of Spot gold PDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.80% to 855.45 tonnes. Industrial gold production in Mali, one of Africa’s top producers of the precious metal, is expected to reach or even exceed its 67.7 tonnes forecast for 2023, according to a mines ministry official.
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