Mumbai: Price of sovereign gold edged higher sharply in Kerala. Sovereign gold is priced at Rs 46,120, higher by Rs 800 per 8 gram. One gram gold is priced at Rs 5765, up by Rs 100. Gold price is gaining after 3 days of decline. Yesterday, yellow metal suffered a loss of Rs 80 per 8 gram. In the last 3 days, yellow metal suffered a loss of Rs 400 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures surged amid a slip in the dollar index (DXY) and bond yields following a dovish commentary by US Federal Reserve Chair Jerome Powell. Gold futures were trading at Rs 62,380, up Rs 1,182 or 1.93%. Silver futures were trading at Rs 74,270 per kg, higher by Rs 2,738 or 3.83%.
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Gold futures on the MCX have lost 2.30% or Rs 1,441 per 10 grams on a month-to-date basis. They are up by 11.24% or Rs 6,182 on a year-to-date basis. Meanwhile, silver futures have declined nearly Rs 5,983 or 7.72% in value terms in December while gaining 3.05% or Rs 2,119 on a YTD basis.
In global markets, price of spot gold was up 0.2% at $2,031.28 per ounce. U.S. gold futures jumped 2.4% to $2,045.50. Price of spot silver rose 0.4% to $23.83 per ounce, while platinum gained 0.2% to $936.15 and palladium climbed 0.6% to $998.64.
On Comex, gold futures were trading at $2,048.60 per troy ounce, up by $51.30 or 2.57% while Silver futures were trading at $24.220, higher by $1.299 or 5.670%.
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