Mumbai: Price of sovereign gold edged lower for third day in a row in Kerala. Gold is priced at Rs 56,400, down by Rs 240 per 8 gram. One gram gold is priced at Rs 7050, down by Rs 30. Yesterday, gold price declined by Rs 120 per 8 gram. In the last four days, gold price depreciated by Rs 400 per 8 gram.
In other major markets, gold prices experienced a minor decrease on Tuesday. The price of 24 carat gold is Rs.7740.3 per gram, reflecting a decline of Rs.160. The price of 22 carat gold is Rs.7096.3 per gram, which is down by Rs.150. The price change in 24 carat gold over the past week has been -1.33%, while the change in the last month is -5.2%.The current price of silver stands at Rs.98000 per kilogram.
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In the Multi Commodity Exchange (MCX), gold futures contracts opened flat today at Rs 75,553 per 10 gram, which is down by 0.08% or Rs 58. Silver futures contracts were trading at Rs 90,906/kg, up by 0.21% or Rs 187. Gold and silver prices witnessed some profit booking in the last 3 sessions with the former dipping by Rs 700 per 10 gram while the latter is down by Rs 500/kg. On Monday, gold futures contract settled at Rs75,611 per 10 gram with a loss of 0.14% and silver futures contract settled at Rs90,719 per kilogram with a loss of 0.74%.
In global markets, price of spot gold was steady at $2,635.89 per ounce. Gold hit a record high level of $2,685.42 on Thursday. U.S. gold futures edged 0.1% lower to $2,657.50. Price of spot silver was up 0.2% to $31.22 per ounce, platinum gained 0.5% to $980.80 and palladium was flat at $999.32.
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