Mumbai: Sovereign gold price edged higher on Saturday, August 24. Yellow metal is priced at Rs 53,560, up by Rs 280 per 8 gram. Yesterday, gold price declined by Rs 160 per 8 gram.
In other major markets, gold prices saw a slight decrease on Saturday. The cost of 24 carat gold is Rs.7271.0 per gram down by Rs.178. The cost of 22 carat gold is Rs.6660.2 per gram down by Rs.164.The price change in 24 carat gold in the last one week has been -1.36%, whereas in the last month it has been -5.43%. The cost of silver is Rs.84780 per kg down by Rs.210 per kg.
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On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 71,384 per 10 gram, which is up by 0.27% or Rs 190. Silver futures rose to Rs 83,979, up by 0.29% or Rs 243. Prices of gold have dipped by Rs 400/10 gm in the last 3 days while silver has fallen by Rs 750 per kilogram. On Thursday, gold futures settled at Rs 71,194 per 10 gram with a loss of 0.89% and silver futures settled at Rs 83,736 per kilogram with a loss of 1.33%
In global markets, price of spot gold rose 0.2% to $2,488.59 per ounce. Gold hit an all-time high on Tuesday, has fallen nearly 1% so far this week. U.S. gold futures gained 0.29% to $2,524.00. Price of spot silver edged 0.4% higher to $29.10 per ounce, platinum gained 0.6% to $949.70 and palladium fell 0.4% to $929.14. The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.13% on Thursday.
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