Mumbai: Sovereign gold prices edged higher in Kerala for fourth day in a row. Gold is priced at Rs 58,520, higher by Rs 240 per 8 gram. One gram gold is priced at Rs 7300, up by Rs 30.
In Kerala, gold price gained by Rs 1200 per 8 gram during January 1 to 3. On Saturday, gold price declined by Rs 360 per 8 gram. Then yellow metal price remained unchanged for three days. Later, on Wednesday, gold price edged higher by Rs 120, on Thursday by Rs 280, and on Friday by Rs 200 per 8 gram.
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In other major markets, gold prices experienced a modest increase on Saturday. The cost of 24 carat gold is Rs.7965.3 per gram, reflecting an increase of Rs 270. The cost of 22 carat gold is 7303.3 per gram, a rise of Rs 250.The price fluctuation of 24 carat gold over the past week is recorded at -0.15%, while over the last month, the change stands at 0.8%. The current price of silver in India is 96700 per kg, reflecting an increase of 1200 per kg.
In the Multi Commodity Exchange (MCX), gold February futures contracts settled slightly higher at Rs 78,311/10 gram, which is up by 0.27% or Rs 207. Silver March futures contracts inched higher to open at Rs 92,160/kg, up by nearly 0.5% or Rs 449. Gold prices increased by Rs 1,560/10 grams in January so far while silver prices fell by Rs 4,930/kg in the same period.
In global markets, spot gold was unchanged at $2,670.16 per ounce. Gold has gained more than 1% so far this week. U.S. gold futures edged 0.1% higher to $2,694.50. Spot silver shed 0.1% to $30.12 per ounce, platinum dropped 0.1% to $957.98 and palladium added nearly 1% to $934.28. All three metals were headed for a weekly gain.
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