Mumbai: Sovereign gold price slipped down sharply in Kerala. This is fourth day in a row that the yellow metal price is declining. Sovereign gold is trading at Rs 44,560, down by Rs 320 per 8 gram. One gram gold is priced at Rs 5570, down by Rs 40. In last four days, yellow metal suffered a loss of Rs 620 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 59,901 per 10 gram, up by Rs 108 or 0.18%. Silver futures were trading at Rs 70,350 per kg, lower by Rs 700 or 0.99%. The gold futures ended at Rs 60,000 on the MCX on Wednesday, down by Rs 347 or 0.58% while the silver futures settled at Rs 70,951, lower by Rs 317 or 0.45%.
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Gold futures on the MCX have declined by 1.53% or Rs 931 per 10 gram on the month-to-date basis. They were up by 9.07% or Rs 4,992 on the year-to-date basis as on Wednesday. Meanwhile, Silver futures have lost nearly Rs 619 or 0.86% in value terms in November while gaining by 2.36% or Rs 1,637 on the YTD basis.
In international markets, price of spot gold was up 0.2% at $1,953.74 per ounce. U.S. gold futures edged 0.1% higher to $1,959.10. Price of spot silver fell 0.4% to $22.61 per ounce, while platinum gained 0.3% to $868.82. Palladium eased 0.3% to $1,047.16, hovering near its lowest level since 2018.
On Comex, gold futures were trading at $1,954.60 per troy ounce on Thursday, down by $3.20 or 0.16% while silver futures were trading at $22.490, up by $0.238 or 1.050%. The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.03% to 867.28 tonnes on Wednesday.
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