Mumbai: Price of sovereign gold edged higher for third day in a row in Kerala. Gold price crossed Rs 58,000 mark in the state. Gold is priced at Rs 58,080, up by Rs 480 per 8 gram. One gram gold is trading at Rs 7260, up by Rs 60. Yesterday, gold gained by Rs 240 per 8 gram. In last three days, gold price surged by Rs 1200 per 8 gram.
In other major markets, gold prices experienced a modest increase on Friday. The cost of 24 carat gold is Rs.7851.3 per gram, reflecting an increase of Rs 330. The cost of 22 carat gold is 7198.3 per gram, a rise of Rs 300. The price fluctuation of 24 carat gold over the past week is recorded at 0.59%, 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 Friday at Rs 77,900/10 gram, which is up by 0.24% or Rs 183. Silver March futures contracts were trading at Rs 89,399/kg, up by 0.25% or Rs 226. Gold prices increased by Rs 1,356/10 grams in this week so far while silver prices went up by Rs 500/kg in the same period.
In global markets, price of spot gold rose 0.1% to $2,660.25 per ounce. Gold was up about 1.5% for the week so far. U.S. gold futures rose 0.2% to $2,673.90. price of spot silver fell 0.1% to $29.54 per ounce, platinum was steady at $923.09, and palladium shed 0.2% to $909.74. Both silver and platinum were on track of weekly rises.
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