Mumbai: Price of gold appreciated in Kerala for third day in a row. Gold price touched new life-time high in the state. Yellow metal is trading at Rs 56,960, up by Rs 80 per 8 gram. One gram gold is priced at Rs 7120, up by Rs 10. In the last three days, gold price surged by Rs 560 per 8 gram. Yesterday, gold price surged by Rs 80 per 8 gram.
In other major markets, gold prices experienced a modest increase on Friday. The cost of 24 carat gold is Rs.7773.3 per gram, reflecting an increase of Rs.100. The cost of 22 carat gold is Rs.7127.3 per gram, marking an increase of Rs.90. The price change in 24 carat gold over the past week has been 0.73%, whereas it has decreased by 4.81% over the past month. The cost of silver is Rs.98100 per kilogram, indicating an increase of Rs.100 per kilogram.
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In the Multi Commodity Exchange (MCX), gold futures contracts opened flat today at Rs 76,357 per 10 gram, which is up by 0.15% or Rs 113. Silver futures contracts were trading at Rs 93,130/kg, up by 0.16% or Rs 152. Over the last one week, gold prices traded flat, increasing merely by Rs 100/gm. Meanwhile silver prices have surged by Rs 470/kg in the same time period.
In global markets, price of spot gold was steady at $2,657.13 per ounce. Gold was on track for a weekly decline, after three straight weekly gains. U.S. gold futures fell 0.1% to $2,676.70. Price of spot silver edged 0.1% lower to $32.03 per ounce and was up about 1.2% so far this week. Platinum gained 0.4% to $994.30 and palladium rose 0.5% to $1,005.25. Both metals were poised for weekly declines.
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