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Commodity Market: Gold price remain firm

Mumbai: Sovereign gold price remained unchanged in Kerala. Yellow metal is trading at Rs 53,600 per 8 gram. Yesterday, gold price gained sharply by Rs 520 per 8 gram.

In other major markets, gold prices saw a slight decrease on Friday. The cost of 24 carat gold is Rs.7362.9 per gram down by Rs.42.The cost of 22 carat gold is Rs.6744.4 per gram down by Rs.38. The price change in 24 carat gold in the last one week has been 0.2%, whereas in the last month it has been 0.9%. The cost of silver is Rs.90200 per kg up by Rs.320 per kg.

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On the Multi Commodity Exchange (MCX), gold futures on Friday opened at Rs 72,455 per 10 gram and silver futures  opened at Rs 92,171/kg. On Thursday, gold and silver settled slightly weaker in the domestic and international markets. Gold futures settled at Rs 72,367 per 10 gram with a loss of 0.05% and silver futures settled at Rs 91,961 per kilogram with a loss of 0.07%.

In global markets, price of spot gold edged 0.1% higher to $2,358.19 per ounce.  Most US markets were closed for Independence Day holiday on Thursday.

 

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