Mumbai: Price of sovereign gold touched new lift-time high on Wednesday, October 23. Gold is priced at Rs 58,720, up by Rs 320 per 8 gram. One gram gold is priced at Rs 7340, up by Rs 40. Yesterday, gold price remained firm at all-time high at Rs 58,400 per 8 gram and Rs 7300 per 1 gram. Gold price crossed Rs 57,000 mark in the state on October 16. It crossed Rs 58,000 mark on October 19.
In other major markets, gold prices remained steady on Wednesday. The cost of 24 carat gold is Rs.7982.3 per gram while the cost of 22 carat gold is Rs.7318.3 per gram. The price change in 24 carat gold over the past week has been -1.9%, and in the last month, it has declined by -4.08%. The cost of silver is Rs.104200 per kg.
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In Multi Commodity Exchange (MCX), gold futures contracts opened flat on Wednesday at Rs 78,545 per 10 gram, which is down by 0.14% or Rs 111. Silver December futures contracts were trading at Rs 99,505/kg, down by 0.46% or Rs 467. On Tuesday, gold futures contract settled at Rs 78,656 per 10 grams with a gain of 0.79% and silver futures contract settled at Rs 99,972 per kilogram with a gain of 2.59%.
In global markets, price of spot gold was little changed at $2,746.25 per ounce, after hitting its highest level at 2749.07 earlier in the session. U.S. gold futures were 0.1% higher to $2,761.4. Price of spot silver fell 0.3% to $34.71 per ounce, after hitting its highest level since late 2012 at $34.87 in the previous session. Platinum rose 0.1% at $1,030 and palladium gained 0.4% to $1,079.75.
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