Mumbai: Price of sovereign gold remained unchanged in Kerala for second day in a row. Gold is trading at Rs 58,960 per 8 gram and Rs 7370 per 1 gram. On Friday, gold price declined by Rs 560 per 8 gram. One Saturday, yellow metal price fell by Rs 120 per 8 gram.
In other major markets, gold prices remained steady on Monday. The cost of 24 carat gold is Rs.8057.3 per gram, while the cost of 22 carat gold is Rs.7382.3 per gram. The price change in 24 carat gold over the past week has been -0.94%, and in the last month, it has recorded a decrease of -3.57%. The cost of silver is Rs.100100 per kg.
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In Multi Commodity Exchange (MCX), gold December futures contracts opened lower by 0.55% or Rs 433 at Rs 78,434 per 10 gram. Silver December futures contracts were trading at Rs 94,676/kg, down by 0.85% or Rs 807. Gold prices witnessed some profit booking from its all-time high of Rs 79,775/10 grams, falling by Rs 1,341 in just 2 trading sessions. On Friday, gold December futures contract settled at Rs78,867 per 10 grams with a gain of 0.56% and silver December futures contract settled at Rs 95,483 per kilo
In global markets, price of spot gold edged up by 0.1% to $2,738.29 per ounce. Gold hit a record high of $2,790.15 on Thursday. U.S. gold futures were flat at $2,747.50. Price of spot silver rose 0.4% to $32.5443per ounce, platinum edged down by 0.1% to $991.72 and palladium added nearly 1% to $1,108.36. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.35% to 888.63 tonnes on Friday.
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