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Commodity Market: Gold prices edge higher marginally

Mumbai: Sovereign gold price appreciated after three days in Kerala. Yellow metal is priced at Rs 53,720, up by Rs 160 per 8 gram. In the last three days, gold price remained unchanged at Rs 53,560 per 8 gram.

On the Multi Commodity Exchange (MCX), gold futures opened flat at Rs 72,040 per 10 gram, which is down by 0.11% or Rs 82. Silver  futures were trading at Rs 85,330/kg, down by 0.38% or Rs 328. In this week, the prices of gold have gained Rs 300/10 gm while silver has remained flat, gaining merely about Rs 100/kg. On Tuesday, gold futures settled at Rs 72,122 per 10 grams with a gain of 0.12% and silver futures settled at Rs 88,338 per kilogram.

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In global markets, price of spot gold was flat at $2,524.88 per ounce. Gold hit a record high of $2,531.60 on August  20.  U.S. gold futures rose 0.3% to $2,560.20. Price of sSpot silver was little changed at $29.99 per ounce, platinum gained 0.6% to $959.21 and palladium climbed 0.2% to $971.95.

 

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