Mumbai: Sovereign gold price edged higher for second day in a row in Kerala on October 17. Gold price reached a new life-time high in the state. The yellow metal is trading at Rs 57,280, up by Rs 160 per 8 gram. One gram gold is priced at Rs 7160, up by Rs 20. Yesterday, gold price gained by Rs 360 per 8 gram. Yesterday, gold price crossed Rs 57,000 mark for the first time.
In other major markets, gold prices witnessed a modest increase on Thursday. The cost of 24 carat gold is Rs.7807.3 per gram, reflecting an increase of Rs.510. The price of 22 carat gold is Rs.7158.3 per gram, which is up by Rs.470. The price fluctuation in 24 carat gold over the past week has been -1.26%, while in the last month, it has decreased by -5.49%. The current price of silver stands at Rs.100000 per kilogram.
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In Multi Commodity Exchange (MCX), gold futures contracts opened at a new lifetime high on Thursday at Rs 76,861 per 10 gram, later coming down to Rs 76,636, falling by 0.04% or Rs 28. Meanwhile, silver futures contracts were trading at Rs 91,545/kg, down by 0.69% or Rs 638. On Wednesday, gold futures contract settled at Rs 76,664 per 10 grams with a gain of 0.40% and silver December futures contract settled at Rs 92,183 per kilogram with a gain of 0.61%.
In global markets, price of spot gold was little changed at $2,674.96 per ounce. Gold prices rose to a session high of $2,685.16 on Wednesday, shy of the record $2,685.42 scaled on September. 26. U.S. gold futures were flat at $2,690.40. Price of spot silver rose 0.2% to $31.74 per ounce. Platinum gained 0.8% to $1,001.40 and palladium firmed 0.3% to $1,026.09.
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