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Commodity Market: Gold price remain firm for third day in a row

Mumbai: Sovereign gold price remained unchanged for third day in a row in Kerala. Sovereign gold is priced at Rs 45,240 per 8 gram and Rs 5655 per 1 gram.  On Friday, yellow metal gained by Rs 480 per 8 gram. In the last five days, yellow metal gained by Rs 880 per 8 gram.,

On the Multi Commodity Exchange (MCX) gold futures opened with small gains and were trading at Rs 60,713 per 10 gram, up by Rs 21 or 0.03%. Silver futures were trading at Rs 73,005 per kg, lower by Rs 135 or 0.18%.

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The December gold futures had ended at Rs 60,745 on Friday, up by Rs 23, or 0.04% while the silver futures closed down by Rs Rs 199 or 0.27% at Rs 73,161. Gold futures on the MCX have declined by 0.37% or Rs 227 per 10 gram on the month-to-date basis. They were up by 10.35% or Rs 5,696 on the year-to-date basis. Meanwhile, silver futures have gained nearly Rs 1,471 or 2.05% in value terms in November while gaining by 5.36% or Rs 3,727 on the YTD basis.

In global markets, price of spot gold was down 0.2% at $1,975.80 per ounce, after rising 2.2% last week. U.S. gold futures slipped 0.3% to $1,978.50. price of spot  silver rose 0.6% to $23.83 per ounce, while platinum was flat at $892.58. Palladium eased 0.2% to $1,035.77 per ounce.

On Comex, gold futures were trading at $1,985.80 per troy ounce on Monday, up by $1.10 or 0.06% while Silver futures were trading at $23.785, lower by $0.067 or 0.280%. The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 1.49% to 883.43 tonnes.

 

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