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Commodity Market: Gold prices edge higher marginally

Mumbai: Price of sovereign gold appreciated marginally in Kerala. Sovereign gold is priced at Rs 54,520, up by Rs 400 per 8 gram. One gram gold is priced at Rs 6815, up by Rs 50. Yesterday, yellow metal price depreciated marginally to Rs 54,120, down by Rs 240 per 8 gram.

On the Multi Commodity Exchange (MCX), gold futures rise by Rs 102 or 0.14% to Rs 72,785 per 10 gram. Silver futures were trading at Rs 83,385 per kg up by Rs 112 or 0.13%. On Thursday, gold  futures  settled at Rs 72,683 per 10 gram while the silver futures settled at Rs 83,851 per kilogram with a gain of 1.25%. Gold is expected to trade with a positive bias in the near term unless geopolitical tensions subside.

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In global markets, price of spot gold was up 0.4% at $2,388.49 per ounce. U.S. gold futures edged 0.2% higher to $2,403.30 per ounce. Price of yellow metal  rose 3% so far this week. Price of spot silver rose 0.7% to $28.41 per ounce, platinum was up 0.6% at $940.70, while palladium fell 0.6% at $1,016.25.

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