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Commodity Market: Gold prices slides down marginally

Mumbai: Price of sovereign gold edged lower marginally in Kerala on August 3, 2024. Yellow metal is trading at Rs 51,760, down by Rs 80 per 8 gram. One gram gold is priced at Rs 6470, down by Rs 10. Yesterday, gold price surged by Rs 240 per 8 gram. In the last three days, gold price gained by Rs 1280 per 8 gram.  On Friday, 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 finished at Rs 69,792 per 10 gram. 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. COMEX gold price finished at $2,486 per troy ounce on Friday.

 

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