Mumbai: Sovereign gold price edged lower in Kerala on Monday, October 28. Gold is priced at Rs 58,520, down by Rs 360 per 8 gram. One gram gold is trading at Rs 7315, down by Rs 45. Yesterday, gold price remained firm at record high of Rs 58,880 per 8 gram.
In other major markets, gold prices experienced a slight decrease on Monday. The cost of 24 carat gold is Rs.8045.3 per gram, down by Rs.10. The cost of 22 carat gold is Rs.7376.3 per gram, also down by Rs.10. The price change in 24 carat gold over the past week has been 0.08%, whereas in the last month it has decreased by 2.75%. The cost of silver is Rs.101000 per kg, down by Rs.100 per kg.
In Multi Commodity Exchange (MCX), gold December futures contracts opened at Rs 78,230 per 10 gram, which is down by 0.38% or Rs 302. Silver December futures contracts were trading at Rs 96,247/kg, down by nearly 1% or Rs 887. Gold prices witnessed a rally in the month of October so far as the prices surged by Rs 2,600/10 grams in the said time period while the silver prices shot up by Rs 5,500/kg in the same time period.
In global markets, price of spot gold fell 0.5% to $2,732.90 per ounce. Prices hit a record high of $2,758.37 on Wednesday while ending nearly 1% higher last week. U.S. gold futures declined 0.33% to $2,745.30. Price of spot silver fell 0.4% to $33.57 per ounce, while palladium rose 0.23% to $1,025.15, platinum edged 0.2 down to $1,190.97.
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