Mumbai: Price of sovereign gold is rallying to record high in Kerala. Gold price crossed Rs 55,000 mark in the state. Yellow metal is priced at Rs 55,040, up by Rs 120 per 8 gram. One gram gold is trading at Rs 6880, up by Rs 15. Yesterday, gold price remained unchanged at Rs 54,920 per 8 gram.
In other major markets, gold prices experienced a modest increase on Monday. The price of 24 carat gold is Rs.7541.5 per gram, reflecting an increase of Rs.105. Meanwhile, the price of 22 carat gold stands at Rs.6923 per gram, up by Rs.130. The price fluctuation of 24 carat gold over the past week has been a decrease of -2.46%, while over the past month, it has declined by -3.91%.The current price of silver is Rs.89500 per kg.
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In Multi Commodity Exchange (MCX), gold futures contracts at MCX opened at Rs 73,645 per 10 gram, which is up by 0.18% or Rs 130. Silver futures contracts were trading nearly 1% highest at Rs 90,008/kg, up Rs 828. In the last one week, the prices of gold have gained Rs 2,200/10 gm while silver has gained Rs 6,400 per kilogram.
In global markets, price of spot gold was up 0.2% at $2,580.81 per ounce. Bullion rose to a record high of $2,585.99 on Friday. U.S. gold futures edged 0.1% lower to $2,608.60. Price of s Spot silver gained 0.8% to $30.89 per ounce, platinum fell 0.2% to $993.40 and palladium shed 0.3% to $1,065.78. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.03% to 870.51 tons on Friday.
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