Mumbai: Price of sovereign gold crossed Rs 58,000 mark in Kerala. Price of yellow metal is surging in the state for second day in a row. Gold is priced at Rs 58,080, up by Rs 280 per 8 gram. One gram gold is trading at Rs 7260, up by Rs 35. Yesterday, gold price gained by Rs 120 per 8 gram. Before that gold price remained unchanged .
In other major markets, gold prices experienced a modest increase on Thursday. The cost of 24 carat gold is Rs.7900.3 per gram, reflecting an increase of Rs 130. The cost of 22 carat gold is 7243.3 per gram, a rise of Rs 120. The price fluctuation of 24 carat gold over the past week is recorded at -0.46%, while over the last month, the change stands at -0.11%. The current price of silver in India is 95500.0 per kg, reflecting an decrease of 200 per kg.
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In the Multi Commodity Exchange (MCX), gold February futures contracts opened slightly higher on Thursday at Rs 77,942 per 10 gram, which is up by 0.25% or Rs 195. Silver March futures contracts were trading at Rs 91,261/kg, up by 0.36% or Rs 323. Gold prices surged by Rs 600/10 grams in this week so far while silver prices rose Rs 2,000/kg during this period. On Wednesday, gold February futures contract settled at Rs 77,747 per 10 grams with a gain of 0.28% and silver March futures contract settled at Rs 90,938 per kilogram with a gain of 0.07%.
In global markets, price of spot gold eased 0.1% to $2,659.27 per ounce. U.S. gold futures rose 0.2% to $2,677.10. Price of spot silver shed 0.3% to $30.03 per ounce, platinum dropped 0.5% to $951.34 and palladium dipped 0.5% to $924.
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