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Commodity Market: Gold prices edge higher marginally

Mumbai:  Sovereign gold price edged higher marginally in Kerala. Yellow metal is trading at Rs 52,520, up by Rs 80 per 8 gram.  Gold is reaching at this price for second time this month. Earlier on August 13, gold price touched this mark.

On the Multi Commodity Exchange (MCX), gold futures opened flat at Rs 70,353 per 10 gram, which is up by 0.31% or Rs 217. Silver futures were trading higher at Rs 82,000/kg, up by 2.42% or Rs 1,939.  Domestic markets were closed on Thursday on account of Independence Day and settled on a weaker note on Wednesday. Gold futures settled at Rs 70,136 per 10 gram with a loss of 0.80% and silver futures settled at Rs 80,061 per kilogram with a loss of 1.22%.

Also Read: Heavy Rains Expected in Odisha, West Bengal, and Jharkhand Due to Bay of Bengal Low-Pressure

In global markets,  price of spot gold fell 0.4% to $2,455.91 per ounce.  US gold futures slipped 0.5% to $2,494.50. Elsewhere, spot silver fell 0.2% to $27.77 and platinum dipped 0.6% to $930.25. Palladium was down 0.4% at $935.31.

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