Mumbai: Sovereign gold price crossed Rs 59,000 mark for the first time in Kerala on Tuesday, October 29. This is new all-time high for gold. Gold is priced at Rs 59,000, up by Rs 480 per 8 gram. One gram gold is priced at Rs 7375, up by Rs 60. Yesterday, gold price declined by Rs 80 per 8 gram.
In other major markets, gold prices experienced a slight decrease on Tuesday. The cost of 24 carat gold is Rs.7996.3 per gram, reflecting a decrease of Rs.490. The cost of 22 carat gold is Rs.7331.3 per gram, down by Rs.450. The price change in 24 carat gold over the past week has been -0.82%, while the change over the last month stands at -3.6%. The current cost of silver is Rs.101000 per kilogram.
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In the Multi Commodity Exchange (MCX), gold December futures opened 0.4% or Rs 304 higher at Rs 78,870/ 10 grams, hovering close to their all-time high level of Rs 78,919/10 gm. Meanwhile, December silver futures contracts surged 0.43% or Rs 426 to the day’s high of Rs 97,850/kg. So far in the month, gold prices have increased by Rs 3,259/ 10 gm while silver is up by Rs 7,131/kg.
In global markets, price of spot gold edged up 0.1% to $2,744.51 per ounce. Prices hit a record high of $2,758.37 on Wednesday. U.S. gold futures were steady at $2,756.70. Price of spot silver was little changed at $33.70 per ounce, while palladium rose 0.1% to $1,034.36, platinum fell 0.3% to $1,215.24. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.19% to 891.50 tonnes on Monday.
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