Mumbai: Price of sovereign gold edged higher in Kerala after one week. Gold is priced at Rs 55,560, up by Rs 80 per 1 gram. One gram gold is priced at 6945, up by Rs 10. Yesterday, gold price declined by Rs 880 per 8 gram. Gold price fell by Rs 2800 per 8 gram in last seven days.
In other major markets, gold prices experienced a slight decline on Friday. The cost of 24 carat gold is Rs.7581.3 per gram, down by Rs.1200. The cost of 22 carat gold is Rs.6951.3 per gram, down by Rs.1100.The price change in 24 carat gold over the past week has been 3.26%, while over the past month it has recorded a change of 1.36%. The price of silver stands at Rs.92500 per kg, having decreased by Rs.1500 per kg.
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Gold and silver prices in 2024 have seen significant volatility, with both metals posting impressive gains of 35% and 45%, respectively, by October. However, in the first ten days of November, these gains sharply reduced to 25% and 27% YTD.
The Multi Commodity Exchange (MCX) will remain shut in the first session between 9 am and 5 pm while resuming trade in the evening session between 5 pm and 11:30/11:55 pm. In Multi Commodity Exchange (MCX), gold December futures contracts opened 0.83% or Rs 615 lower at Rs 72,867 per 10 gram on Thursday, while silver December futures contracts were trading at Rs 88,032/kg, down by 0.1.31% or Rs 1,165. In this week so far, Gold prices have fallen by Rs 3,400/10 grams while silver prices fell by Rs 3,200/kg in the same period. On Wednesday, gold December futures contract settled at Rs 74,482 per 10 grams with a loss of 0.56% and silver December futures contract settled at Rs 89,197 per kilogram with a loss of 0.15%.
In global markets, price of spot gold was flat at $2,573.73 per ounce. U.S. gold futures fell 0.3% at $2,578.00. price of spot silver held steady at $30.32, platinum lost 0.2% to $935.60 and palladium was unchanged at $932.91.
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