Mumbai: Price of sovereign gold remained unchanged on Sunday, September 1. Yellow metal is priced at Rs 53,560 per 8 gram and Rs 6695 per 1 gram. Yesterday, gold price declined by Rs 80 per 8 gram.
In other major markets, gold prices saw a slight decrease . The cost of 24 carat gold is Rs.7318.1 per gram down by Rs.1052. The cost of 22 carat gold is Rs.6703.5 per gram down by Rs.963. The price change in 24 carat gold in the last one week has been -1.19%, whereas in the last month it has been -3.16%. The cost of silver is Rs.85100 per kg down by Rs.60 per kg.
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On the Multi Commodity Exchange (MCX), gold futures opened flat 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.
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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