Mumbai: Price of sovereign gold remained unchanged in Kerala for third day in a row. Sovereign gold is priced at Rs 57,720 per 8 gram and Rs 7215 per 1 gram. Gold price remained unchanged in the state from Saturday. On Friday, gold price declined by Rs 320 per 8 gram.
In other major markets, gold prices experienced a modest decrease on Monday. The cost of 24 carat gold is Rs.7887.3 per gram, reflecting an decrease of Rs 10. The cost of 22 carat gold is 7231.3 per gram, a fall of Rs 10. The price fluctuation of 24 carat gold over the past week is recorded at -1.51%, while over the last month, the change stands at -2.0%. The current price of silver in India is 94500.0 per kg, reflecting an decrease of 100 per kg.
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In the Multi Commodity Exchange (MCX), gold February futures contracts opened flat on Monday at Rs 77,260 per 10 gram, which was down by 0.07% or Rs 57 while silver March futures contracts were trading at Rs 89,272/kg, up by 0.06% or Rs 51. So far in January, gold prices have increased by Rs 500/10 grams, while silver prices have gone up Rs 2,000/kg in the same period. On Friday, gold February futures contract settled at Rs 77,317 per 10 grams with a loss of 0.51% while silver March futures contract settled at Rs 89,221 per kilogram with a gain of 0.05%.
In global markets, price of spot gold was steady at $2,639.56 per ounce. U.S. gold futures fell 0.1% to $2,652.00. Price of spot silver rose 0.1% to $29.64 per ounce, platinum was down 0.7% at $931.70, and palladium shed 0.4% to $918.63. Holdings of SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, fell 0.17% to 871.08 tonnes on Friday from 872.52 tonnes on Thursday.
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