Mumbai: Sovereign gold price remained unchanged in Kerala on Sunday, November 17. Gold is priced at Rs 55,480 per 8 gram and Rs 6935 per 1 gram. Yesterday, gold price declined by Rs 80 per 8 gram. Gold price declined by Rs 2800 per 8 gram in last seven days.
In other major markets, gold prices experienced a minor decline on Sunday. The price of 24 carat gold is Rs.7582.3 per gram, a reduction of Rs.120. The price of 22 carat gold is Rs.6952.3 per gram, decreasing by Rs.110. The price change in 24 carat gold over the past week has been 4.12%, while in the last month, it has shown a decrease of 4.42%. The current price of silver stands at Rs.92600 per kg, reflecting an increase of Rs.100 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.
In Multi Commodity Exchange (MCX), gold December futures contracts settled 0.83% or Rs 615 lower at Rs 72,867 per 10 gram on Thursday, while silver December futures contracts ended 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.