Mumbai: Price of sovereign gold surged after 3 days in Kerala. Yellow metal price appreciated to fresh lifetime high in the state. Gold is trading at Rs 60,760, up by Rs 680 per 8 gram. One gram gold is trading at Rs 7659, higher by Rs 85. In last two days, gold price declined by Rs 360 per 8 gram.
In other major markets, gold prices experienced a modest decrease on Wednesday. The cost of 24 carat gold is Rs.8209.3 per gram, reflecting an decrease of Rs 320. The cost of 22 carat gold is 7526.3 per gram, a fall of Rs 300. The price fluctuation of 24 carat gold over the past week is recorded at -0.38%, while over the last month, the change stands at -5.33%. The current price of silver in India is 99500 per kg, reflecting no change .
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In the Multi Commodity Exchange (MCX), gold April futures contracts rose 0.15% or Rs 124, reaching a new all-time high of Rs 80,413 per 10 grams, marking the second consecutive session of price gains. Meanwhile, silver March futures contracts were trading at Rs 91,079/kg, up by merely 0.03% or Rs 28, having gone up by Rs 720/kg in the last 2 days. On Tuesday, gold April futures contract settled at Rs 80,899 per 10 grams with a gain of 0.92% and silver March futures contract settled at Rs 91,051 per kilogram with a gain of 0.91%.
In global markets, price of spot gold held its ground at $2,765.35 per ounce. U.S. gold futures added 0.2% to $2,772.10. Price of spot silver was up 0.1% at $30.43 per ounce, palladium dropped 0.3% to $952 and platinum fell 0.2% to 940.10.