Mumbai: Gold price appreciated in Kerala for third day in a row. Sovereign gold is priced at 56,920, up by Rs 400 per 8 gram. One gram gold is priced at Rs 7115, up by Rs 50. Yesterday, gold price gained by Rs 560 per 8 gram. Last week, gold price declined by Rs 2800 per 8 gram.
In other major markets, gold prices experienced a slight increase on Wednesday. The cost of 24 carat gold is Rs.7725.3 per gram, which reflects an increase of Rs.760. Furthermore, the cost of 22 carat gold is Rs.7083.3 per gram, also up by Rs.700. The price change in 24 carat gold over the last week has been 1.58%, while in the past month, it has seen a rise of 5.29%. The current price of silver is Rs.94700 per kg, which marks an increase of Rs.2200 per kg.
The multi commodity exchange of India (MCX) will remain closed for trading in its morning session from 9 am to 5 pm in view of the Maharashtra Assembly Election 2024. However, the exchange will carry out trading in its normal course during its evening session from 5 pm to 11:55 pm.
Also Read: 10 soldiers killed in a suicide attack
Yesterday in the Multi Commodity Exchange (MCX), gold December futures contracts settled at Rs 75,400 per 10 gram, which is up by nearly 0.50% or Rs 353. Silver December futures contracts ended at Rs 91,059/kg, up by 0.6% or Rs 546. Gold prices shot up by Rs 1,480/ 10 grams in the last 2 days while silver prices went up by Rs 2,700/kg in the same period. On Monday, gold December futures contract settled at Rs75,047 per 10 grams with a gain of 1.49%.
In global markets, price of spot gold was little changed at $2,611.79 per ounce. Prices gained 2% in the previous session. U.S. gold futures were flat at $2,615.70. Price of spot silver steadied at $31.14 per ounce, platinum was down 0.2% at $965.36 and palladium eased 0.1% to $1,004.05. holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.2% to 871.65 tonnes on Monday from 869.93 tonnes on Friday.