Mumbai: Price of sovereign gold gained again in Kerala. Sovereign gold is priced at Rs 58,720, up by 80 per 8 gram. One gram gold is trading at Rs 7340, up by Rs 10. Yesterday, gold price declined by Rs 80 per 8 gram.
In other major markets, gold prices experienced a modest decrease on Wednesday. The cost of 24 carat gold is Rs.8012.3 per gram, reflecting an decrease of Rs 130. The cost of 22 carat gold in India is 7346.3 per gram, a fall of Rs 120. The price fluctuation of 24 carat gold over the past week is recorded at -1.01%, while over the last month, the change stands at -2.21%. The current price of silver in India is 95500 per kg, reflecting an decrease of 2200 per kg.
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In the Multi Commodity Exchange (MCX), gold February futures contracts opened at Rs 78,298 per 10 gram, which was up by 0.18% or Rs 142. Silver March futures contracts were trading at Rs 90,747/kg, up by 0.21% or Rs 191. Gold prices jumped by Rs 1,550/10 grams in the last one week while silver prices have largely traded flat, tumbling by Rs 191/kg in the same period.
In global markets, price of spot gold eased 0.1% to $2,672.93 per ounce as of 0047 GMT. U.S. gold futures gained 0.3% to $2,689.60. Price of spot silver shed 0.4% to $29.78 per ounce and palladium steadied at $938.23. Platinum added 0.3% to $937.66. Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.23% to 872.52 tonnes on Tuesday from 874.52 tonnes on Monday.