Mumbai: Price of sovereign gold surged and touched fresh life-time high again in Kerala. Sovereign gold is priced at Rs 63,560, up by Rs 120 per 8 gram. One gram gold is priced at Rs 7945, up by Rs 15. Yesterday, gold price remained unchanged at Rs 63,440 per 8 gram. Before that, gold price gained by Rs 1800 per 8 gram in three days. Gold price crossed Rs 60,000 mark in January 22.
In other major markets, gold prices experienced a modest decrease on Saturday. The cost of 24 carat gold is Rs.8667.3 per gram, reflecting an decrease of Rs 20. The cost of 22 carat gold is 7946.3 per gram, a fall of Rs 20. The price fluctuation of 24 carat gold over the past week is recorded at -2.04%, while over the last month, the change stands at -8.15%. The current price of silver in India is 102500 per kg, reflecting no change .
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In the Multi Commodity Exchange (MCX), gold April futures contracts ended marginally lower at Rs 84,512/10 gram, which is down by 0.07% or Rs 55. Silver March futures contracts settled at Rs 95,549/kg, down by 0.43% or Rs 416. In this week so far, the prices of gold have ended higher each day, gaining Rs 2,200/10g so far in the said period. Meanwhile, silver prices were also up by nearly Rs 2,300/kg.
In the global markets, gold prices steadied on Friday near record-high levels, and were headed to log their sixth successive weekly gain. Price of spot gold was up 0.1% at $2,859.59 per ounce. Gold has gained more than 2% so far this week. Bullion hit an all-time high at $2,882.16 earlier this week. U.S. gold futures added 0.3% to $2,884.20. Price of spot silver added 0.1% to $32.24 per ounce, platinum edged 0.2% higher to $987.38, and palladium was flat at $978.63. Both silver and platinum were seen rising this week, while palladium was headed for a weekly loss.