Mumbai: Price of sovereign gold reached near record high in Kerala. Gold price crossed Rs 59,000 mark in the state. Gold is priced at Rs 59,120, up by Rs 400 per 8 gram. One gram gold is trading at Rs 7390, up by Rs 50. This is for second day in a row that gold price is gaining. Yesterday, gold price gained by Rs 80 per 8 gram.
In other major markets, gold prices experienced a modest increase on Thursday. The cost of 24 carat gold is Rs.8025.3 per gram, reflecting an increase of Rs 130. The cost of 22 carat gold is 7358.3 per gram, a rise of Rs 120 The price fluctuation of 24 carat gold over the past week is recorded at -1.08%, while over the last month, the change stands at -2.58%. The current price of silver in India is 96700 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 on Thursday at Rs 78,805 per 10 gram, which is up by 0.12% or Rs 95. Silver March futures contracts were trading at Rs 93,139/kg, up by 0.3% or Rs 283. Gold prices have risen by Rs 840/ 10 grams in the last 2 days while silver prices fell by Rs 2,600/kg in the same period. On Wednesday, gold February futures contract settled at Rs 78,710 per 10 grams with a gain of 0.71%.
In global markets, price of spot gold was flat at $2,695.84 per ounce, after hitting its highest since December 12 earlier in the session. U.S. gold futures gained 0.2% to $2,723.80. Price of spot silver shed 0.3% to $30.57 per ounce and palladium steadied at $961.45. Platinum added 0.2% to $940.45.
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