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Commodity Market: Gold price shoots up

Mumbai: Sovereign gold prices edged higher in Kerala. Yellow metal gained by Rs 280 per 8 gram and Rs 35 per 1 gram. Gold price again crossed Rs 46,000 mark. Sovereign gold is trading at Rs 46,200 per 8 gram and Rs 5775 per 1 gram. Yesterday, gold price remained unchanged at Rs 45,920 per 8 gram.

On the Multi Commodity Exchange (MCX),  gold futures were trading at Rs 62,525 per 10 gram, up by Rs 49 or 0.08%. Silver futures were trading at Rs 75,008 per kg, higher by Rs 184 or 25%. On Tuesday,  gold futures  closed at Rs 62,435, down by Rs 41 or 0.07% while  silver futures settled at Rs 74,825, up by Rs 415 or 0.56%.

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Gold futures on the MCX have lost 0.26% or Rs 164 per 10 grams on a month-to-date basis, Gupta said. They were up by 13.56% or Rs 7,459 on the year-to-date basis. Silver futures have declined nearly Rs 2691 or 3.47% in value terms in December while gaining by 7.80% or Rs 5,411 on the YTD basis.

In global markets, price of spot gold was little changed at $2,038.49 per ounce. U.S. gold futures were unchanged at $2,051.60. price of spot silver rose 0.2% to $24.06 per ounce, while platinum fell 0.3% to $951.46 and palladium was steady at $1,224.60.

On Comex, Gold futures were trading at $2,052.30 per troy ounce, up by $0.20 or 0.01% while Silver futures were trading at $24.390, higher by $0.069 or 0.280%.

 

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