Mumbai: Price of sovereign gold edged higher again in Kerala. Sovereign gold is priced at Rs 58,720, up by Rs 200 per 8 gram. One gram gold is priced at Rs 7340, up by Rs 25. Gold price gained by Rs 1400 per 8 gram in last six days. Yesterday, gold price remained unchanged.
In other major markets, gold prices experienced a modest decrease on Monday. The cost of 24 carat gold is Rs.7981.3 per gram, reflecting an decrease of Rs 10. The cost of 22 carat gold is 7316.3 per gram, a fall of Rs 10. The price fluctuation of 24 carat gold over the past week is recorded at -0.98%, while over the last month, the change stands at -2.0%. The current price of silver in India is 96500 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 78,375 per 10 gram, which is down by 0.06% or Rs 48. Silver March futures contracts were trading at Rs 92,195/kg, down by 0.34% or Rs 311. However, gold prices have rallied by Rs 850/10 grams in the last one week while silver prices have risen by Rs 1,300/kg in the same period.
In global markets, price of spot gold held ground at $2,690.49 per ounce. U.S. gold futures gained 0.2% to $2,720.20.Price of s pot silver traded flat at $30.38 per ounce, platinum dropped 0.2% to $962.73, while palladium gained 0.1% to $949.12. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.66% to 876.82 tonnes on Friday from 871.08 tonnes on Wednesday.
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