Mumbai: Price of sovereign gold remained unchanged at record high in Kerala. Gold is trading at Rs 60,440 per 8 gram and Rs 7555 per 1 gram. This is the all-time high price of gold reported in the state. Yesterday, gold price gained by Rs 240 per 8 gram. On Wednesday, gold price surged by Rs 600 and crossed Rs 60,000 mark.
In other major markets, gold prices experienced a modest increase on Saturday. The cost of 24 carat gold is Rs.8260.3 per gram, reflecting an increase of Rs 350. The cost of 22 carat gold is 7573.3 per gram, a rise of Rs 320. The price fluctuation of 24 carat gold over the past week is recorded at -1.2%, while over the last month, the change stands at -5.3%. The current price of silver in India is 100700 per kg, reflecting an increase of 1200 per kg.
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In the Multi Commodity Exchange (MCX), gold February futures contracts opened slightly higher on Friday at Rs 79,880 per 10 gram, which is up by 0.32% or Rs 254. Silver March futures contracts were trading at Rs 91,790/kg, up by 0.7% or Rs 641. While gold prices have rallied by Rs 850/10 gram in this week, silver prices have largely remained unchanged.
In global markets, gold prices edged higher and were on track for a fourth straight weekly gain. Price of spot gold edged up 0.2% to $2,760.40 per ounce and gained over 2% so far this week. U.S. gold futures added 0.1% to $2,767.60. Price of spot silver was up 0.1% to $30.47 per ounce, palladium gained 0.2% to $993.46 and platinum rose 0.4% to 945.85. All of the three metals were poised for weekly gains.
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