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Commodity Market: Gold price fresh life-time high

Mumbai: Sovereign gold price touched new life-time high in Kerala. Sovereign gold is priced at Rs 55,840, up by Rs 160 per 8 gram. One gram gold is priced at Rs 6980, up by Rs 20. Yesterday, gold price remained unchanged at t Rs 55,680 per 8 gram and Rs 6960 per 1 gram. On Saturday, yellow metal price gained by Rs 600 per 8 gram.

In other major markets, gold prices experienced a slight decrease on Monday. The cost of 24 carat gold is Rs.7609.3 per gram, reflecting a decline of Rs.10. The cost of 22 carat gold is Rs.6976.3 per gram, also down by Rs.10. The price change in 24 carat gold over the past week has been -2.61%, while the decrease over the past month has been -3.75%. The cost of silver is Rs.96000 per kg, down by Rs.100 per kg.

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In Multi Commodity Exchange (MCX), gold  futures contracts opened flat today at Rs 74,268 per 10 gram, hovering near its all-time high level. Silver  futures contracts were trading at Rs 90,213/kg, up by 0.09% or Rs 78. In the last one week, the prices of gold have gained Rs 800/10 gm while silver has gained Rs 600 per kilogram.

In global markets, price of spot gold steadied near $2,619.37 per ounce. Gold is trading near a record high hit on Friday.  U.S. gold futures edged 0.1% lower to $2,643.90. Price of spot silver was down 0.2% to $31.06 per ounce, platinum fell 0.8% to $967.81 and palladium shed 1.3% to $1,053.67.

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