Mumbai: Gold price appreciated in Kerala for fourth day in a row. Sovereign gold is priced at Rs 57,800, up by Rs 640 per 8 gram. One gram gold is priced at Rs 7225, up by Rs 80. Yesterday, gold price gained by Rs 240 per 8 gram. Last week, gold price declined by Rs 2800 per 8 gram. But, this week gold price edged higher by Rs 2320 per 8 gram.
In other major markets, gold prices witnessed a slight increase on Friday. The cost of 24 carat gold is Rs.7813.3 per gram, reflecting an increase of Rs.330. The cost of 22 carat gold is Rs.7163.3 per gram, which is up by Rs.300. The price change in 24 carat gold over the past week has been -1.7%, while in the last month, it has increased by 3.88%. The cost of silver is Rs.95000 per kg, down by Rs.200 per kg.
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In Multi Commodity Exchange (MCX), gold December futures contracts opened higher today at Rs 77,018 per 10 grams, which is up by 0.42% or Rs 325. Silver December futures contracts were trading at Rs 90,052/kg, up by 0.14% or Rs 127. Gold futures prices surged for the 5th consecutive session today, gaining nearly Rs 3,100/10 grams while silver futures have surged by Rs 1,600/kg in the same time period. On Thursday, gold and silver settled on a mixed note in the domestic and international markets. Gold December futures contract settled at Rs 76,693 per 10 grams with a gain of 0.87% while silver December futures contract settled at Rs 89,925 per kilogram with a loss of 0.18%.
In global markets, price of spot gold was little changed at $2,669.99 per ounce and up over 4% for the week so far. Gold rose to over one-week high in the previous session. U.S. gold futures edged down by 0.1% to $2,672.00. Price of spot silver fell 0.1% to $30.75 per ounce, platinum steadied at $961.53 and palladium edged up 0.1% to $1,037.57. All three metals were on track for weekly rise. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.29% to 877.97 metric tons on Thursday.
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