Mumbai: Price of sovereign gold edged lower in Kerala. Gold price has declined below Rs 64,000 mark. Sovereign gold is priced at Rs 63,520, down by Rs 560. One gram gold is priced at Rs 7940, lower by Rs 70. Yesterday, gold price gained by Rs 640 per 8 gram.
In other major markets, gold prices experienced a modest increase on Wednesday. The cost of 24 carat gold is Rs.8756.3 per gram, reflecting an increase of Rs 320. The cost of 22 carat gold is 8028.3 per gram, a rise of Rs300. The price fluctuation of 24 carat gold over the past week is recorded at -0.47%, while over the last month, the change stands at -7.58%. The current price of silver is 102500per kg, reflecting no change .
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In the Multi Commodity Exchange (MCX), gold April futures contracts continued their massive rally, surging above the Rs 86,000/10 gram level. The yellow metal opened higher on Tuesday at a new all-time high of Rs 86,350 per 10 grams, up by 0.62% or Rs 534. Silver March futures contracts were trading at Rs 95,373/kg, up by 0.08% or Rs 72. On Monday, gold and silver settled on a mixed note in the domestic market and on a positive note in the international markets.
In global markets, price of spot gold fell 0.1% at $2,895.23 per ounce, after climbing a peak of $2,942.70 on Tuesday. U.S. gold futures eased 0.3% to $2,923.40. Price of spot silver fell 0.1% to $31.78 per ounce, while platinum gained 0.1% to $984.50 and palladium firmed 0.3% to $978.77.
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