Mumbai: Sovereign gold price declined sharply again in Kerala. Yellow metal is trading at Rs 50,400, down by Rs 800 per 8 gram. One gram gold is priced at Rs 6,300, down by Rs 100. Yesterday, gold price depreciated by Rs 760 per 8 gram. In the last eight days, gold price edged lower by Rs 4600 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures opened flat on Friday at Rs 67,849 per 10 gram, which is up by merely 0.57% or Rs 387. Silver futures were trading at Rs 81,380/kg, up by 0.06% or Rs 49. Gold has declined by Rs 1,100/10 gm in the last 2 days while silver prices have gone down by Rs 3,500/kg in 2 days.
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On Thursday, gold and silver settled on a weaker note in the domestic as well as the international markets. Gold futures settled at Rs 67,462 per 10 gram with a loss of 2.16% and silver futures settled at Rs 81,331 per kilogram with a loss of 4.20%.
In global markets, price of spot gold had decreased by 1.2 per cent to $2,369.29 per ounce. Gold touched its lowest level since July 10. U.S. gold futures declined by 1.9 per cent to $2,368.80. Price of spot silver fell by 4.8% to $27.6 per ounce, reaching an 11-week low. Platinum decreased by 1.5% to $933.68, near a three-month low, and palladium dropped by 2.9% to $905.32.
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