Mumbai: Gold price slipped down again in Kerala on Saturday, November 16. Gold is trading at Rs 55,480, down by Rs 80 per 8 gram. One gram gold is trading at Rs 6935, down by Rs 10. Yesterday, gold price gained by Rs 80 per 8 gram. Gold price fell by Rs 2800 per 8 gram in last seven days.
In other major markets, gold prices observed a slight increase on Saturday. The cost of 24 carat gold is Rs.7594.3 per gram, reflecting an increment of Rs.130. The cost of 22 carat gold is Rs.6963.3 per gram, which has risen by Rs.120. The price change in 24 carat gold over the past week has been 3.27%, while over the last month, it has experienced a change of 1.66%. The current cost of silver stands at Rs.92500 per kg.
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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