Mumbai: Price of sovereign gold edged lower in Kerala for third day in a row. Gold is priced at Rs 56,360, down by Rs 320 per 8 gram. One gram gold is trading at Rs 7045, down by Rs 40. Yesterday, yellow metal price declined by Rs 1080 per 8 gram. On Monday, gold price depreciated by Rs 440 and on Saturday by 80 per 8 gram. In the last five days, yellow metal price declined by Rs 1920 per 8 gram.
In other major markets, gold prices remained steady on Wednesday. The cost of 24 carat gold is Rs.7746.3 per gram. The cost of 22 carat gold is Rs.7102.3 per gram. The price change in 24 carat gold in the last one week has been -0.25%, whereas in the last month it has been -1.46%. The cost of silver is Rs.94100 per kg.
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In Multi Commodity Exchange (MCX), gold December futures contracts opened higher on Wednesday at Rs 75,209 per 10 gram, which was up by 0.41% or Rs 308. Silver December futures contracts were trading at Rs 90,195/kg, up by nearly 1% or Rs 868. Gold prices continued witnessing profit booking this week so far as the prices fell by Rs 2,000/10 grams while silver prices fell by around Rs 1,100/kg in the same period. On Tuesday, gold December futures contract settled at Rs 74,901 per 10 grams with a loss of 0.60.
In global markets, price of spot gold was flat at $2,599.19 per ounce. U.S. gold futures steadied at $2,605.10. Price of spot silver held steady at $30.72 per ounce, platinum lost 0.1% to $944.92 and palladium eased 0.1% at $943.69.
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