Mumbai: Sovereign gold is trading at all-time high in Kerala. Gold price remained firm at Rs 56,960 per 8 gram and Rs 7120 per 8 gram. In the last three days, gold price edged higher by Rs 560 per 8 gram. Yesterday, yellow metal price gained by Rs 80 per 8 gram.
In other major markets, gold prices experienced a minor increase on Saturday. The cost of 24 carat gold is Rs.7785.3 per gram, reflecting an increase of Rs.120. The cost of 22 carat gold is Rs.7138.3 per gram, which is an increase of Rs.110. The price change in 24 carat gold over the past week has been -0.08%, while in the last month, it has decreased by -5.29%. The cost of silver is Rs.98000.0 per kg, showing a decline of Rs.100 per kg.
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In the Multi Commodity Exchange (MCX), gold futures contracts settled on Friday at Rs 76,357 per 10 gram, which is up by 0.15% or Rs 113. Silver futures contracts ended 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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