Mumbai: Price of sovereign gold edged lower for second day in a row in Kerala. Gold price depreciated sharply today. Gold is trading at Rs 56,640, down by Rs 960 per 8 gram. One gram gold is priced at Rs 1760, down by Rs 120. Yesterday, yellow metal price declined by 800 per 8 gram.
In other major markets, gold prices experienced a minor decline on Tuesday. The price of 24 carat gold stands at Rs.7871.3 per gram, reflecting a decrease of Rs.1090. The price for 22 carat gold is currently Rs.7216.3 per gram, which has decreased by Rs.1000. The price change for 24 carat gold over the past week is -3.21%, while it has increased by 0.8% over the last month. The current price of silver is Rs.94500 per kilogram, which has decreased by Rs.500 per kilogram.
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In the Multi Commodity Exchange (MCX), gold December futures contracts opened flat today at Rs 75,402 per 10 gram, which is up by 0.12% or Rs 91. Silver December futures contracts were trading at Rs 88,074/kg, up by 0.43% or Rs 375. Gold prices fell sharply, tumbling by Rs 2,200/ 10 grams in the last 2 days while silver prices fell by Rs 2,700/kg in the same period.
In global markets, price of spot gold was down 0.2% at $2,621.06 per ounce. Gold fell more than 3% in the previous session. U.S. gold futures edged 0.1% higher to $2,621.10. Price of spot silver fell 0.3% to $30.19 per ounce, platinum shed 0.5% to $934.00 and palladium was down 0.2% to $971.07. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.16% to 879.41 tonnes on Monday.