Mumbai: Sovereign gold price edged higher for second day in a row in Kerala. Today, gold price gained by Rs 400 per 8 gram. Yesterday, gold price gained by Rs 640 per 8 gram. Thus, yellow metal price crossed Rs 51,000 mark. Gold is priced at Rs 51,600 per 8 gram and Rs 6450 per 1 gram.
On the Multi Commodity Exchange (MCX), gold futures opened at Rs 70,005 per 10 gram, which is up by 0.5% or Rs 350. Silver futures were trading at Rs 83,967/kg, up by 0.44% or Rs 371. Gold prices have increased by Rs 1,400 per 10 grams this week, while silver is up by Rs 2,500/kg in the same period. On Wednesday, gold futures settled at Rs 69,655 per 10 gram with a gain of 0.69% and silver futures settled at Rs 83,596 per kilogram with a gain of 1.13%.
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In global markets, price of spot gold was steady at $2,448.38 per ounce. Gold price touched its highest level since July 18 earlier in the session. U.S. gold futures firmed 0.8% to $2,492.50. Price of spot silver fell 0.3% to $28.94 per ounce, platinum lost 0.3% to $973.65 and palladium was flat at $925.16.
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