Mumbai: Sovereign gold price edged higher sharply in Kerala on Tuesday, December 10. This is for second day in a row that gold price is appreciating. Gold is trading at Rs 57,640, up by Rs 600 per 8 gram and Rs 7205, up by Rs 75 per 1 gram. Yesterday, gold price gained by Rs 120 per 8 gram. On Friday, gold price declined by Rs 200. On Saturday and Sunday gold price remained unchanged.
In other major markets, gold prices experienced a modest increase on Tuesday. The cost of 24 carat gold is Rs.7796.3 per gram, reflecting an increase of Rs 180. The cost of 22 carat gold in India is 7148.3 per gram, a rise of Rs 170. The price fluctuation of 24 carat gold over the past week is recorded at 0.22%, while over the last month, the change stands at 1.47%. The current price of silver in India is 95000 per kg, reflecting no change .
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In Multi Commodity Exchange (MCX), February gold futures were trading at Rs 77,726 per 10 grams, up by Rs 240 or 0.31% from the previous session’s closing price. Meanwhile, March silver futures were at Rs 95,330 per kg, rising by 133 or 0.14%.
In global markets, price of spot gold held its ground at $2,660.82 per ounce. U.S. gold futures were steady at $2,683.60. price of spot silver gained 0.3% to $31.90 per ounce, platinum added 0.3% to $941.90 and palladium rose 0.3% to $976.29. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.13% to 870.79 tons on Monday from 871.94 tons on Friday.
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