Mumbai: Price of sovereign gold edged higher for second straight day in Kerala. Sovereign gold is priced at Rs 63,520, higher by Rs 80 per 8 gram. One gram gold is priced at Rs 7990, up by Rs 10. Yesterday, gold price gained by Rs 320 per 8 gram.
In other major markets, gold pices experienced a modest increase on Friday. The cost of 24 carat gold is Rs.8723.3 per gram, reflecting an increase of Rs 400. The cost of 22 carat gold is 7998.3 per gram, a rise of Rs 420. The price fluctuation of 24 carat gold over the past week is recorded at -1.02%, while over the last month, the change stands at -8.35%.The current price of silver is 102500 per kg, reflecting no change .
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In the Multi Commodity Exchange (MCX), gold April futures contracts opened higher today at Rs 86,116 per 10 gram, which is up by 0.36% or Rs 306. Silver March futures contracts were trading at Rs 96,270/kg, up by 1.09% or Rs 1,037. Gold prices have surged by a staggering Rs 3,900/10 grams in this month so far while silver prices have surged by Rs 2,900/kg in the same period. On Thursday, gold April futures contract settled at Rs 85,809 per 10 grams with a gain of 0.38% while silver March futures contract settled at Rs 95,233 per kilogram with a loss of 0.28%.
In global markets, gold prices held steady on Friday, and were poised for a seventh consecutive weekly gain. Price of spot gold held its ground at $2,929.02 per ounce, moving closer to its record peak of $2,942.70 hit on Tuesday. U.S. gold futures rose 0.4% to $2,957.50. Price of spot silver fell 0.1% to $32.32 per ounce. Platinum was up 0.1% at $996.35 and palladium eased 0.3% to $991.26.
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