Mumbai: Sovereign gold price depreciated in Kerala for second day in a row. Gold is trading at Rs 54,800, down by Rs 120 per 8 gram. One gram gold is priced at Rs 6850, down by Rs 15. Yesterday, yellow metal price declined by Rs 120 per 8 gram.
In other major markets, gold prices experienced a modest increase on Wednesday. The price of 24 carat gold stands at Rs.7351 per gram, reflecting an increase of Rs.180. The price of 22 carat gold is recorded at Rs.6757 per gram, which is up by Rs.200. The price change for 24 carat gold over the past week has been -3.35%, while the change over the last month is -2.6%. Currently, the cost of silver is Rs.89500 per kg.
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In the Multi Commodity Exchange (MCX), gold futures contracts opened flat on Wednesday at Rs 73,260 per 10 gram, which is down by 0.23% or Rs 166. Silver futures contracts were trading at Rs 88,750/kg, down by 0.44% or Rs 390. Gold prices fell by Rs 240 per 10 gram while silver declined by Rs 860 per kilogram in the last 2 days. On Tuesday, gold futures contract settled at Rs 73,094 per 10 grams with a loss of 0.55%.
In global markets, price of spot gold edged 0.1% higher to $2,572.11 per ounce. Gold rose to a record high of $2,589.59 on Monday. U.S. gold futures rose 0.2% to $2,598.30. Spot silver edged lower by 0.1% to $30.69 per ounce, platinum rose 0.1% to $982.79 and palladium was flat at $1,115.69.
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