Mumbai: Sovereign gold price crossed Rs 55,000 mark in Kerala. Gold price gained after three days in the state. Gold is priced at Rs 55,080, higher by Rs 480 per 8 gram. One gram gold is trading at 6885, up by Rs 60. Yesterday, gold price declined by Rs 200 per 8 gram.
In other major markets, gold prices remained steady on Friday. The cost of 24 carat gold is Rs.7343 per gram, while the cost of 22 carat gold is Rs.6752 per gram. The price change in 24 carat gold in the last week has been 2.45%, whereas in the last month it has been -0.19%. The cost of silver is Rs.94000 per kg, reflecting an increase of Rs.4500 per kg.
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In the Multi Commodity Exchange (MCX), gold futures contracts opened flat today at Rs 73,502 per 10 gram, which is up by 0.09% or Rs 64. Silver futures contracts were also trading flat at Rs 90,055/kg, up by 0.1% or Rs 87.Gold prices have surged by Rs 450 per gram in the last 2 days while silver prices gained nearly Rs 1,800/kg.
In global markets, price of spot gold held its ground at $2,586.98 per ounce. Gold has climbed about 0.4% for the week so far. Gold rose to a record high of $2,599.92 on Wednesday following Fed’s decision on rate cuts. U.S. gold futures edged 0.1% lower to $2,611.50. Price of spot silver was flat at $30.76 per ounce, platinum fell 0.4% to $984.90 and palladium shed 0.3% to $1,077.75.
Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.20% to 873.96 tonnes on Thursday.
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