Mumbai: Price of sovereign gold declined in Kerala on Friday, August 30. Price of yellow metal is declining after seven days in the state. Gold price gained by Rs 600 per 8 gram in last seven days. Today, gold is priced at Rs 53,640, down by Rs 80 per 8 gram. Yesterday, gold price remained firm at Rs 53,720 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures opened flat on Friday at Rs 71,905/10 gram, which is down by 0.39% or Rs 283. Silver futures were trading at Rs 86,634/kg, down by 0.48% or Rs 415. On Thursday, gold futures settled at Rs 72,188 per 10 grams with a gain of 0.62% and silver futures settled at Rs 87,049 per kilogram with a gain of 0.62%. In the month of August, the prices of gold have gained Rs 2,200/10 gm while silver has gained Rs 3,000 per kilogram.
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In global markets, price of spot gold was down 0.1% at $2,517.91 per ounce. Gold is on track to log its second consecutive monthly gain, rising about 3%. U.S. gold futures fell 0.4% to $2,551.20. Price of spot silver edged 0.1% lower to $29.41 per ounce, and palladium was flat at $979.95, both metals on track for monthly gains. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.13% to 857.27 metric tons on Thursday.
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