Mumbai: Price of sovereign gold edged higher for third day in a row in Kerala. Yellow metal is trading at Rs 51,840, up by Rs 240 per 8 gram. One gram gold is priced at Rs 6480, up by Rs 30. In the last three days, gold price gained by Rs 1280 per 8 gram. Yesterday, gold price appreciated by Rs 400 per 8 gram and on Wednesday, the precious metal surged by Rs 640 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures opened at Rs 70,305 per 10 gram, which is up by 0.50% or Rs 351. Silver futures s were trading at Rs 83,684/kg, up by 1.32% or Rs 1,090. Gold prices rose by a little over 1% in Thursday’s session by Rs 800/10 gram but were unable to sustain the gains and fell by Rs 535 from day’s high, eventually gaining Rs 695 in the last 2 days while silver traded flat in the same time period, up by Rs 90.
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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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