Mumbai: Price of sovereign gold depreciated sharply in Kerala on Thursday, July 25, 2024. Sovereign gold is priced at Rs 51,200, down by Rs 760 per 8 gram. One gram gold is priced at Rs 6400, lower by Rs 70. In the last one week, gold price declined by Rs 3800 per 8 gram. Yesterday, gold price remained unchanged at Rs 51,960.
On the Multi Commodity Exchange (MCX), gold futures along with silver futures contracts opened flat on Thursday. The gold futures opened down by 0.06% or Rs 42 at Rs 68,910 per 10 gram. While the silver futures opened down by 0.19% or Rs 164 at Rs 84,730 per kilogram.
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On Wednesday, gold and silver settled on a mixed note in the domestic and the international markets. Gold futures settled at Rs 68,952 per 10 gram with a gain of 0.65% while silver futures settled at Rs 84,894 per kilogram with a loss of 0.03%. The yellow metal has fallen by Rs 4,000/10 gm in this week so far while silver has declined by nearly Rs 5,000/kg in this week.
In global markets, price of spot gold fell 0.9% to $2,377.29 per ounce. US gold futures dropped 1.6% to $2,376.70. Spot silver fell 0.5% to $28.84 per ounce, platinum steadied at $948.00 and palladium eased 0.3% to $930.25. Gold prices are poised for a fresh run to record highs in coming months while platinum and palladium will stay below $1,000 per ounce in 2024, a Reuters poll showed.
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