Mumbai: Price of sovereign gold edged higher in Kerala after four days. Gold price surged by Rs 80 per 8 gram to Rs 58,800. One gram gold is priced at Rs 7225, up by Rs 10. Gold price remained firm in the last three days.On Saturday, gold declined by Rs 360 per 8 gram.
In other major markets, gold prices experienced a remained steady on Wednesday. The cost of 24 carat gold is Rs.7887.3 per gram, reflecting no change . The cost of 22 carat gold is 7231.3 per gram, reflecting no change . The price fluctuation of 24 carat gold over the past week is recorded at -0.87%, while over the last month, the change stands at -1.15%. The current price of silver in India is 95700 per kg, reflecting an increase of 1200 per kg.
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In the Multi Commodity Exchange (MCX), gold February futures contracts opened flat with a negative bias today at Rs 77,440 per 10 gram, which is down by 0.12% or Rs 91. Silver March futures contracts were trading at Rs 90,840/kg, down by 0.04% or Rs 33. Gold prices have broadly traded flat in this week so far, having increased by Rs 120/10 gram, whereas silver prices have gone up by Rs 1,600/kg in the same time. On Tuesday, gold February futures contract settled at Rs 77,531 per 10 grams with a gain of 0.48% and silver March futures contract settled at Rs 90,873 per kilogram with a gain of 0.35%.
In global markets, price of spot gold held its ground at $2,650.62 per ounce, after rising as much as 1% in the previous session. U.S. gold futures were unchanged at $2,665. Price of spot silver shed 0.5% to $30.15 per ounce, platinum was flat at $950.85 and palladium edged 0.1% lower to $924.92.
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