Mumbai: Sovereign gold price depreciated in Kerala after one week. Gold is trading at Rs 57,840, down by Rs 440 per 8 gram. One gram gold is priced at Rs 7230, down by Rs 55. Yesterday, gold price remained unchanged. Gold price gained by Rs 1360 per 8 gram in this week.
In other major markets, gold prices experienced a modest decrease on Friday. The cost of 24 carat gold is Rs.7963.3 per gram, reflecting an decrease of Rs 20. The cost of 22 carat gold in India is 7301.3 per gram, a fall of Rs 20. The price fluctuation of 24 carat gold over the past week is recorded at -0.9%, while over the last month, the change stands at -2.25%. The current price of silver in India is 99700 per kg, reflecting an increase of 1200 per kg.
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In the Multi Commodity Exchange (MCX), gold February futures contracts opened flat at Rs 78,114 per 10 gram, which is up by 0.19% or Rs 145. Silver March futures contracts were trading at Rs 92,304/kg, down by 0.36% or Rs 329. Gold prices fell by Rs 888/ 10 grams in the last 2 days while silver prices fell by Rs 3,500/kg in the same period. On Thursday, gold February futures contract settled at Rs 77,969 per 10 grams with a loss of 1.31% and silver March futures contract settled at Rs 92,633 per kilogram with a loss of 3.31%.
In global markets, price of spot gold held its ground at $2,681.55 per ounce. Gold is poised for a weekly gain and has added nearly 2% so far this week. U.S. gold futures were down 0.1% at $2,705.40. Price of spot silver was flat at $30.94 per ounce, platinum shed 0.3% to $927.50 and palladium fell 0.5% to $965.22. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.56% to 868.50 tons in the previous session from 873.38 tons on Wednesday.
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