Mumbai: Sovereign gold prices edged lower in Kerala after four days. Gold is priced at Rs 57,080, down by Rs 120 per 8 gram. One gram gold is priced at Rs 7135, down by Rs 15. Gold price declined on Saturday lastly. Yesterday, gold price gained by Rs 80 per 8 gram.
In other major markets, gold prices experienced a modest increase on Wednesday. The cost of 24 carat gold is Rs.7818.3 per gram, reflecting an increase of Rs 130. The cost of 22 carat gold in India is 7168.3 per gram, a rise of Rs 120. The price fluctuation of 24 carat gold over the past week is recorded at 2.05%, while over the last month, the change stands at -2.0%. The current price of silver in India is 95500 per kg, reflecting no change .
In the Multi Commodity Exchange (MCX), gold February futures contracts extended losses on Wednesday, opening flat at Rs 76,852 per 10 gram, which is down by 0.02% or Rs 19. Silver March futures contracts were trading at Rs 90,700/kg, down by 0.19% or Rs 175. Gold prices have fallen by Rs 300/10 grams in this week so far while silver prices have also fallen by Rs 300/kg in the same period. On Tuesday, gold February futures contract settled at Rs 76,871 per 10 grams with a loss of 0.25%.
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In global markets, price of spot gold ticked up 0.1% to $2,649.09 per ounce. U.S. gold futures added 0.1% to $2,665.40. Price of spot silver was unchanged at $30.51 per ounce, platinum shed 0.2% to $937.79, while palladium gained 0.3% to $937.87.
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