Mumbai: Price of sovereign gold depreciated sharply in Kerala for second day in a row. Yellow metal is priced at 53,120, down by Rs 720 per 8 gram. Yesterday, gold price declined by Rs 800 per 8 gram. In the last three days, gold price declined by Rs 2020 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures fell Rs 126 or 0.18% to trade at Rs 71,451 per 10 gram. Gold is experiencing its biggest weekly decline this year after hitting an all-time high on Monday. Silver futures were up Rs 154 or 0.17% to Rs 90,591 per kg.
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In global markets, price of spot gold rose 0.2% at $2,332.14 per ounce. Bullion prices are down 3.4% so far this week, after hitting a record high of 2,449.89 on Monday. U.S. gold futures were down 0.2% at $2,333.70. Price of spot silver rose 0.5% to $30.25 per ounce, platinum was up 0.3% at $1,021.75 and palladium gained 0.1% at $970.75.
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