Mumbai: Sovereign gold prices edged lower for third day in a row in Kerala. Sovereign gold is priced at Rs 46,400, down by Rs 80 per 8 gram. One gram gold is trading at Rs 5800, down by Rs 10. In last three days, yellow metal prices declined by Rs 600 per 8 gram.
On the Multi Commodity Exchange (MCX) gold futures were trading at Rs 62,671 per 10 gram, up Rs 31 or 0.05%. Silver futures were trading at Rs 72,501 per kg, up Rs 165 or 0.23%. On Thursday, gold futures closed at Rs 62,647, up by Rs 7 while silver futures settled at Rs 72,370, rising Rs 34 or 0.05%.
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 0.89% or by Rs 563 from the 2023 closing price while silver futures have corrected by 2.81% or Rs 2,094 per kg in the last two sessions.
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The price of gold in major physical bullion markets like Delhi, Ahmedabad, and other cities is Rs 63,300 per 10 gram while that of 1 kg of silver is Rs 74,000.
In international markets, price of spot gold was up 0.1% at $2,054.10 per ounce. It has declined about 0.8% so far in the week after three straight weekly gains. U.S. gold futures rose 0.2% to $2,053.00 per ounce. Price of spot silver rose 0.6% to $23.13 per ounce, while platinum slipped 0.3% to $953.61. Palladium rose 0.7% to $1,044.23 after an eight-session slide.
Comex Gold futures were trading at $2,052.80 per troy ounce on Friday, up $2.80 or 0.14% while Silver futures were trading at $23.305, higher by $0.118 or 0.510%.
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