Mumbai: Sovereign gold price edged higher marginally on Monday in Kerala. Sovereign gold is priced at Rs 46,520, up by Rs 120 per 8 gram. One gram gold is priced at Rs 5815, up by Rs 15. Yesterday, Yellow metal price remained unchanged at Rs 46,400 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 62560 per 10 gram, up Rs 198 or 0.32% . Silver futures were trading at Rs 72,720 per kg, higher by Rs 240 or 0.33%. Gold closed on Friday at Rs 62,362 gaining by 0.93% while silver finished 1.58% up and closed at Rs 72,480 levels.
MCX Gold has narrowed its losses from 2.24% or Rs 1,415 to 1.33% or Rs 841 per 10 gram in 2024. Silver futures have also trimmed this year’s losses to 2.62% or Rs 1,950 from 4.13% or Rs 3,076 per kg in the last three sessions. 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.
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Price of gold in major physical markets like Delhi, Ahmedabad, and other cities is Rs 63,500 per 10 gram while those of 1 kg of silver is Rs 74,500.
In global markets, price of spot gold was up 0.3% at $2,054.73 per ounce.U.S. gold futures rose 0.4% to $2,058.70. price of spot silver rose 0.5% to $23.29 per ounce, platinum climbed 0.9% to $913.45, and palladium gained 0.7% to $982.38.
Comex Gold futures were trading at $2,038.55 per troy ounce on Monday, up by $19.85 or 0.98% while silver futures were trading at $23.040, higher by $0.338 or 1.490%.
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