Mumbai: Sovereign gold price slipped down marginally in Kerala. Sovereign gold is trading at Rs 46,800, down by Rs 200 per 8 gram. One gram gold is priced at Rs 5850, down by Rs 25. Yesterday, yellow metal gained by Rs 160 per 8 gram. Price of gold in major physical bullion markets like Delhi, Ahmedabad and other cities is Rs 64,000 per 10 gram.
On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 63,274 per 10 gram, up by Rs 17 or 0.03%. Silver futures were trading at Rs 74,061 per kg, lower by Rs 34 or 05%. On Tuesday, gold futures closed at Rs 63,298, up by Rs 41 while silver futures settled at Rs 74,155, higher by Rs 60 or 0.08%.
After ending 2023 with gains of 15.22% or by Rs 8,372 per 10 gram, MCX gold futures have started this year on a weak note. Gold is down by 0,09% or by Rs 54 from the 2023 closing price while silver futures have corrected by 0.45% or Rs 335 per kg in the last two sessions.
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In global markets, price of spot gold was up 0.1% at $2,061.49 per ounce. U.S. gold futures eased 0.2% to $2,069.90 per ounce. Price of spot silver gained 0.1% to $23.66 per ounce, while platinum was little changed at $981.27. Palladium rose 0.3% to $1,084.40
The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.06% to 878.54 tonne from 879.11 tonne. Comex Gold futures were trading at $2,073.10 per troy ounce on Wednesday, down by $0.30 or 0.01% while silver futures were trading at $23.920, lower by $0.033 or 0.140%.
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