Mumbai: Price of sovereign gold edged lower sharply for second day in a row in Kerala. Yellow metal price slipped down below Rs 51,000 mark. Gold is trading at Rs 50,800, down by Rs 320 per 8 gram. Yesterday, gold price depreciated by Rs 640 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures opened flat on Wednesday at Rs 68,752 per 10 gram, which is down by 0.31% or Rs 213. Silver futures were trading at Rs 79,433/kg, down by 0.24% or Rs 190. In this week so far, the prices of gold have fallen by Rs 1,000/10 gm while silver prices have gone down by nearly Rs 3,060 per kilogram. On Tuesday, gold futures settled at Rs 68,965 per 10 gram with a loss of 0.50% while silver futures settled at Rs 79,623 per kilogram with a gain of 0.03%.
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In global markets, price of spot gold was down 0.2% at $2,385.23 per ounce.. U.S. gold futures fell 0.3% to $2,425.50. Spot silver shed 0.2% to $26.99 per ounce, platinum rose 0.31% to $914.90 and palladium gained 0.13% to $875.77. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.37% to 848.06 tonnes on Tuesday from 844.90.
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