Mumbai: Price of sovereign gold edged higher for second day in a row in Kerala. Gold is trading at Rs 57,440, up by Rs 240 per 8 gram. One gram gold is priced at Rs 7180, up by Rs 30. Yesterday, gold price surged by Rs 320 per 8 gram.
In other major markets, gold prices experienced a modest increase on Thursday. The cost of 24 carat gold is Rs.7818.3 per gram, reflecting an increase of Rs 460. The cost of 22 carat gold is 7168.3 per gram, a rise of Rs 420. The price fluctuation of 24 carat gold over the past week is recorded at -0.35%, while over the last month, the change stands at -0.28%. The current price of silver in India is 93500 per kg, reflecting no change .
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In the Multi Commodity Exchange (MCX), gold February futures contracts opened flat on Thursday at Rs 77,017/10 gram, which is up by 0.16% or Rs 124. Silver March futures contracts opened higher by 0.85% or Rs 742 at Rs 88,320/kg. Gold prices increased approximately by Rs 500/10 grams in this week so far while silver prices surged by nearly Rs 800/kg in the same period. Gold prices remained positive on the first trading day of the year, supported by a flat dollar and an overall bullish trend.
In the international markets, spot gold rose 0.39% to $2,634.15 per ounce. Gold emerged as one of the top-performing assets in 2024, surging more than 27% in its largest annual gain since 2010. Spot silver rose 0.4% to $28.98 per ounce and palladium added 0.6% to $909.00, while platinum shed 0.1% to $909.32. Silver rose nearly 22% in 2024 to post its best year since 2020, while platinum and palladium ended the previous year with losses, shedding more than 8% and 17%, respectively.
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