Mumbai: Sovereign gold prices depreciated in Kerala market for second day in a row. Sovereign gold is priced at Rs 46,160, down by Rs 80 per 8 gram. One gram gold is trading at Rs 5770, down by Rs 10. Yesterday, yellow metal prices declined by Rs 160 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 62,231 per 10 gram, up by Rs 136 or 0.22%. Silver futures were trading at Rs 72,507 per kg, higher by Rs 80 or 0.11%. On Monday, gold contract closed at Rs 62,080, down by Rs 15 or 0.02% while the silver futures settled at Rs 72,450, lower by Rs 137 or 0.19%.
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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 1.75% or by Rs 1,108 from the 2023 closing price while Silver futures have corrected by 2.69% or Rs 2,003 per kg in the last two sessions.
The price of gold in major markets like Delhi, Ahmedabad, and other cities is Rs 63,000 per 10 gram while that of 1 kg of Silver is Rs 74,000.
In global markets, price of spot gold was up 0.2% at $2,032.39 per ounce. U.S. gold futures also rose 0.2% to $2,038.30 per ounce. Price of spot silver rose 0.1% to $23.11 per ounce, while platinum climbed 0.5% to $950.08, and palladium gained 0.5% to $1,002.76.
Comex Gold futures were trading at $2,039.60 per troy ounce on Tuesday, up by $6.10 or 0.30% while silver futures were trading at $23.335, lower by $0.025 or 0.110%.
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