Mumbai: Price of sovereign gold remained unchanged in Kerala on Sunday, February 16. Gold is trading at Rs 63,120 per 8 gram and Rs 7890 per 1 gram. Yesterday, yellow metal price suffered sharpest decline in a month. Yesterday, gold price declined by Rs 800 per 8 gram.
In other major markets, gold prices experienced a modest decrease on Sunday. The cost of 24 carat gold is Rs.8624.3 per gram, reflecting an decrease of Rs 1100. The cost of 22 carat gold is 7907.3 per gram, a fall of Rs 1010. The price fluctuation of 24 carat gold over the past week is recorded at -0.46%, while over the last month, the change stands at -6.63%. The current price of silver in India is 103600 per kg, reflecting an decrease of 100 per kg.
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In the Multi Commodity Exchange (MCX), gold April futures contracts settled higher at Rs 86,116 per 10 gram, which is up by 0.36% or Rs 306. Silver March futures contracts ended 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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