Mumbai: Sovereign gold price declined for second straight day in Kerala. Gold is priced at Rs 60,080, down by Rs 240 per 8 gram. One gram gold is trading at Rs 7510, down by Rs 30. Yesterday, gold price declined by Rs 120 per 8 gram. Before that gold was trading at an all-time high price of Rs 60,440 for three days.
In other major markets, gold rices experienced a modest decrease on Tuesday. The cost of 24 carat gold is Rs.8241.3 per gram, reflecting an decrease of Rs 170. The cost of 22 carat gold is 7556.3 per gram, a fall of Rs 150. The price fluctuation of 24 carat gold over the past week is recorded at -1.43%, while over the last month, the change stands at -5.56%. The current price of silver in India is 99500 per kg, reflecting an decrease of 1000 per kg.
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In the Multi Commodity Exchange (MCX), gold April futures contracts opened higher on Tuesday at Rs 80,355/10 gram, which is up by 0.24% or Rs 195. Silver March futures contracts were flat at Rs 90,223/kg. On Monday, gold April futures contract settled at Rs 80,160 per 10 grams with a loss of 0.62% and silver March futures contract settled at Rs 90,223 per kilogram with a loss of 1.50%.
In global markets, price of spot gold held its ground at $2,742.49 per ounce. U.S. gold futures added 0.3% to $2,746.70. Price of spot silver was 0.2% lower at $30.15 per ounce, palladium dropped 0.4% to $957.25 and platinum fell 0.3% to 944.35.
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