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Commodity Market: Gold price crosses Rs 53,000 mark

Mumbai: Price of sovereign gold appreciated for second day in a row in Kerala. Price of yellow metal crossed Rs 53,000 mark today. Yellow metal is priced at Rs 530,80, up by Rs 240 per 8 gram.  One gram gold is priced at Rs 6635, up by Rs 30. Yesterday, gold price edged higher by Rs 160 per 8 gram. In the last four days, yellow metal gained by Rs 480 per 8 gram.

On the Multi Commodity Exchange (MCX), gold  futures were down by Rs 19 or 0.03% at Rs 71,350 per 10 gram. Silver futures fell by Rs 72 or 0.09% to Rs 82,883 per kg. Yesterday gold prices increased sharply by 0.99% and closed at 71369 levels. Silver prices also increased by 2.36% and closed at 82955 levels.

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In global markets, price of spot gold rose 0.2% at $2,327.11 per ounce. U.S. gold futures firmed 0.2% to $2,336.20. Price of spot silver fell 0.1% to $27.44 per ounce, platinum gained 0.5% to $958.90 and palladium rose 0.4% to $981.34.

The holdings of  SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.21% to 832.19 tonnes.

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