Mumbai: Price of sovereign gold appreciated in Kerala on Tuesday, July 16, 2024. Yellow metal is priced at Rs 54,280, up by Rs 280 per 8 gram. One gram gold is trading at Rs 6785, up by Rs 35. Yesterday, gold price declined by Rs 80 per 8 gram.
In other major markets, gold prices saw a slight increase on Tuesday. The cost of 24 carat gold is Rs.7526.6 per grm up by Rs.1294.The cost of 22 carat gold is Rs.6894.4 per gram up by Rs.1186. The price change in 24 carat gold in the last one week has been -1.43%, whereas in the last month it has been -1.48%. The cost of silver is Rs.92020 per kg up by Rs.100 per kg.
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On the Multi Commodity Exchange (MCX), gold futures opened up by 0.18% or Rs 133 at Rs 73,604 per 10 gram. Silver futures opened up by 0.29% or Rs 273 at Rs 92,845 per kilogram. The yellow metal has gained Rs 1,600/10 gram in the last one month while silver has surged by Rs 3,300/kg in the month of July so far. On Monday, gold futures settled at Rs 73,471 per 10 gram with a gain of 0.28% while silver futures settled at Rs 92,572 per kilogram with a loss of 0.58%.
In global markets, price of spot gold held its ground at $2,422.12 per ounce. Prices hit their highest level since May 20 on Monday, when they scaled a record high of $2,449.89 per ounce. U.S. gold futures dipped 0.1% to $2,425.60. Spot silver fell 1.4% to $30.59 per ounce, platinum slipped 0.2% at $993.28 and palladium steadied at $950.31. The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.17% to 836.53 tons on Monday from 835.09 tons on Friday.
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