Mumbai: Price of sovereign gold depreciated sharply in Kerala on Thursday, November 7, 2024. Gold is priced at Rs 57,600, down by Rs 1320 per 8 gram. One gram gold is trading at Rs 7200, down by Rs 165. Yesterday, gold price surged by Rs 80 per 8 gram.
In other major markets, gold prices remained steady on Thursday. The cost of 24 carat gold is Rs.8052.3 per gram. The cost of 22 carat gold is Rs.7382.3 per gram. The price change in 24 carat gold over the last week has been 1.37%, while in the last month it has decreased by 3.48%.The cost of silver is Rs.99100 per kg.
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In Multi Commodity Exchange (MCX), gold December futures contracts opened flat today at Rs 76,369 per 10 gram, which is down by 0.37% or Rs 286. Silver December futures contracts were trading at Rs 90,601/kg, down by 0.24% or Rs 219. Post the US Election, gold prices fell by Rs 2,100/ 10 grams in the last 2 days while silver prices fell by Rs 4,050/kg in the same period. Today, the price of 8 gram of standard gold (22 carat) was recorded at Rs 57,384 in Delhi, while pure gold (24 carat) stood at Rs 61,136.
In global markets, price of spot gold was little changed at $2,663.02 per ounce. Gold slipped to over 3-week low in previous session, as investors piled into the U.S. dollar after Republican Donald Trump was elected U.S. president. It hit a record high of $2,790.15 last week and has lost nearly $130 since then. U.S. gold futures edged 0.2% lower to $2,670.40. Price of spot silver rose 0.2% to $31.21 per ounce, platinum gained 0.13% to $987.90 and palladium was down 0.2% to $1,032.93.
The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.39% to 883.46 tonnes on Wednesday.
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