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Commodity Market: Gold price remain firm for fourth day in a row

Mumbai: Price of sovereign gold remained unchanged for fourth day in a row in Kerala. Sovereign gold is priced at Rs 46,240 per 8 gram and Rs 5780 per 1 gram. The price of gold in major markets like Delhi, Ahmedabad and other cities is Rs 62,500 per 10 gram while those of 1 kg of Silver is Rs 72,000.

On the Multi Commodity Exchange (MCX),  gold futures were trading at  Rs 61,976 per 10 gram, up by Rs 8 or 0.01%. Silver futures were trading at Rs 71,000 per kg, marginally up Rs 43 or 0.06%.

Gold has narrowed its losses to 2.02% or Rs 1,273 per 10 gram in 2024. Silver futures have extended this year’s losses to 4.90% or Rs 3,635 from 4.13% or Rs 3,076 per kg in the last five sessions. After ending 2023 with gains of 15.22% or by Rs 8,372 per 10 grams, MCX gold futures have started this year on a weak note.

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In international markets, price of spot gold edged 0.1% lower to $2,027.39 per ounce.  U.S. gold futures, however, rose 0.1% to $2,028.40. Price of spot silver was little unchanged at $22.42 per ounce, platinum was flat at $900.06, and palladium fell 0.2% to $946.18.

Comex Gold futures were trading at $2,025.30 per troy ounce, up $3.10 or 0.15% while silver futures were trading at $22.320, higher by $0.024 or 0.110%.

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