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Commodity Market: Gold price cross Rs 52,000 mark

Mumbai: Sovereign gold price surged again in Kerala. Yellow metal is trading at Rs 52,520, up by Rs 760 per 8 gram. Yesterday, gold price edged higher by Rs 200 per 8 gram. In the last four days, yellow metal price gained by Rs 1720 per 8 gram.

On the Multi Commodity Exchange (MCX), gold  futures opened flat  at Rs 70,679 per 10 gram, which is down by 0.08% or Rs 59. Silver  futures were trading at Rs 81,237/kg, down by 0.47% or Rs 387. The prices of gold have gained Rs 800/10 gm while silver has gained Rs 700 per kilogram in the last 2 days.

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In global markets, spot gold fell by 0.2% to $2,466.69 per ounce, after hitting its highest since August 2 earlier in the session. U.S. gold futures rose 0.1% to $2,506.90. Spot silver 0.5% to $27.8607 per ounce, platinum edged 0.2% higher to $938.55 and palladium shed 0.4% to $917.10 The holdings of  SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.34% to 849.79 metric tons on Monday from 846.91 tons on Friday.

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