Mumbai: Price of sovereign gold edged lower in Kerala on Saturday, December 28, 2024. Gold price is declining after three days in the state. Gold is trading at Rs 57,080, down by Rs 120 per 8 gram. One gram gold is priced at Rs 7135, down by Rs 15. Yesterday, gold price gained by Rs 200 per 8 gram. In the last three days, gold price gained by Rs 480 per 8 gram.
In other major markets, gold prices experienced a modest increase on Saturday. The cost of 24 carat gold is Rs.7818.3 per gram, reflecting an increase of Rs 270. The cost of 22 carat gold is 7168.3 per gram, a rise of Rs 250. The price fluctuation of 24 carat gold over the past week is recorded at -0.01%, while over the last month, the change stands at -0.15%. The current price of silver in India is 95500 per kg, reflecting an decrease of 200.0 per kg.
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In the Multi Commodity Exchange (MCX), gold February futures contracts settled flat at Rs 76,900 per 10 gram, which is up by 0.1% or Rs 73. Silver March futures contracts ended higher at Rs 89,994/kg, up by 0.4% or Rs 358. Gold prices surged by Rs 250/10 grams in the last one week while silver prices have increased by Rs 2,800/kg in the same period. On Thursday, gold February futures contract settled at Rs 76,827 per 10 gram.
In global markets, price of spot gold was flat at $2,632.79 per ounce. Gold gained 0.45% so far this week. U.S. gold futures were nearly unchanged at $2,653.00. Price of spot silver was steady at $29.80 per ounce, platinum added 0.4% to $939.69 and palladium rose 0.19% to $926.64. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.13% to 872.80 tonnes on Thursday.