Mumbai: Sovereign gold price edged lower sharply in Kerala. Gold price is declining for second day in row. Gold is priced at Rs 56,560, down by Rs 520 per 8 gram. One gram gold is priced at Rs 7070, down by Rs 65. Yesterday, gold price slipped down by Rs 120 per 8 gram.
In other major markets, gold prices experienced a modest decrease on Thursday. The cost of 24 carat gold is Rs.7800.3 per gram, reflecting an decrease of Rs 180. The cost of 22 carat gold in India is 7151.3 per gram, a fall of Rs 170. The price fluctuation of 24 carat gold over the past week is recorded at 2.02%, while over the last month, the change stands at -1.02%. The current price of silver in India is 95500 per kg, reflecting no change .
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In the Multi Commodity Exchange (MCX), gold February futures contracts opened lower by nearly 1% on Thursday at Rs 75,941 per 10 gram, which is down by Rs 712. Silver March futures contracts were trading at Rs 88,261/kg, down by 2.3% or Rs 2,119. On Wednesday, gold February futures contract settled at Rs 76,653 per 10 grams with a loss of 0.28% and silver March futures contract settled at Rs 90,380 per kilogram with a loss of 0.54%.
In global markets, price of spot gold were little changed at $2,588.80 per ounce. U.S. gold futures were down 1.9% to $2,602.70. Price of spot silver was steady at $29.37 per ounce, platinum was down 0.4% to $915.45 and palladium eased 0.2% to $901.30. holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.03% to 863.90 metric tons on Wednesday.