Mumbai: Price of sovereign gold edged lower in Kerala on Thursday, September 12, 2024. Price of yellow metal declined by Rs 80 per 8 gram to Rs 53,640. One gram gold is priced at Rs 6705, down by Rs 10. Yesterday, gold price gained by Rs 280 per 8 gram.
In other major markets, gold and silver prices observed a slight decline today, with the cost of 24 carat gold at Rs.7289 per gram, representing a decrease of Rs.1030. The cost of 22 carat gold is Rs.6879 per gram, down by Rs.70. The price change in 24 carat gold over the past week has been 0.09%, while the monthly change is recorded at -1.61%. Meanwhile, the price of silver stands at Rs.86500 per kilogram, which is an increase of Rs.1500 per kilogram.
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On the Multi Commodity Exchange (MCX), gold futures contracts opened flat on Thursday at Rs 71,890 per 10 gram, which is down by 0.05% or Rs 37. Silver futures contracts were trading at Rs 84,569/kg, up by 0.14% or Rs 119. In this week so far, the prices of gold have gained Rs 460/10 gm while silver has gained Rs 1,800 per kilogram. On Thursday, gold futures contract settled at Rs 71,927 per 10 grams with a gain of 0.02% and silver futures contract settled at Rs 84,450 per kilogram with a gain of 0.92%.
In global markets, price of spot gold was subdued at $2,511.52 per ounce. U.S. gold futures edged 0.1% lower to $2,539.20. Price of spot silver was steady at $28.67 per ounce, platinum gained 0.5% to $955.72 and palladium climbed 1.7% to $1,025.37. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.20% to 866.18 tonnes on Wednesday.
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