Mumbai: Sovereign gold price declined in Kerala for third day in a row. Yellow metal is priced at Rs 54,240, down by Rs 280 per 8 gram. One gram gold is priced at Rs 6780, down by Rs 35.
On Wednesday, gold price edged higher by Rs 760 to an all-time high of Rs 55,000 per 8 gram. Then, in the last three days, gold price declined by Rs 760 per 8 gram.
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In other major markets, gold prices saw a slight decrease on Saturday. The cost of 24 carat gold is Rs.7514.4 per gram down by Rs.389.The cost of 22 carat gold is Rs.6883.2 per gram down by Rs.356. The price change in 24 carat gold in the last one week has been 0.35%, whereas in the last month it has been -0.83%. The cost of silver is Rs.89070 per kg down by Rs.2670 per kg.
On the Multi Commodity Exchange (MCX), gold futures were trading at Rs.74679 per 10 gram. Silver futures were trading at Rs.92150 per kg down by 0.013%.
In global markets, price of spot gold had decreased 1.8% to $2,401.49 per ounce. Earlier, on Wednesday, gold reached an all-time high of $2,483.60. Meanwhile, U.S. gold futures fell about 2.2% to $2,403.70. Price of spot silver dropped about 3% to $29.17 per ounce, platinum decreased 0.2% to $965.90, and palladium fell 1.2% to $918.93. All three metals were on track for weekly declines.
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