Mumbai: Price of sovereign gold edged lower in Kerala for second day in a row. Yellow metal is trading at Rs 54,520, down by Rs 360 per 8 gram. Yesterday, gold price declined by Rs 120 per 8 gram. On Wednesday, gold price gained by Rs 720 to an all-time high of Rs 55,000 per 8 gram.
In other major markets, gGold prices saw a slight increase on Friday. The cost of 24 carat gold is Rs.7553.3 per gram up by Rs.1021.The cost of 22 carat gold is Rs.6918.8 per gram up by Rs.934. The price change in 24 carat gold in the last one week has been 0.24%,.whereas in the last month it has been -2.13%. The cost of silver is Rs.91740 per kg down by Rs.370 per kg.
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On the Multi Commodity Exchange (MCX), gold futures opened lower by 0.72%, or Rs 534, at Rs 73,621 per 10 gram on Friday. Silver futures opened down by nearly 1%, or Rs 90,953 per kilogram. The yellow metal has traded flat, gaining only Rs 340 per 10 grams in the last week, while silver has dipped by Rs 2,100 per kilogram in the same period.
In global markets, price of spot gold was down 0.4% at $2,434.38 per ounce. Gold has touched an all-time high of $2,483.60 on Wednesday. Prices were up 1% for the week. U.S. gold futures fell 0.8% to $2,435.70. Price of spot silver fell 1.4% to $29.65 per ounce, platinum eased 0.6% at $961.80 and palladium dropped 0.3% to $927.20.
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