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Commodity Market: Gold price hits fresh all-time high

Mumbai: Sovereign gold prices touched new all-time high in Kerala. Gold is priced at Rs 64,600, up by Rs 160 per 8 gram. One gram gold is priced at Rs 8055, up by Rs 20. This second day for a row that gold price is gaining. Yesterday, yellow metal price gained by Rs 80 per 8 gram. Gold price has touched a life-time high  of Rs 64,560 on February 20.

In other major markets, gold prices  experienced a modest increase on Tuesday. The cost of 24 carat gold is Rs.8805.3 per gram, reflecting an increase of Rs 120. The cost of 22 carat gold is 8072.3 per gram, a rise of Rs110. The price fluctuation of 24 carat gold over the past week is recorded at -0.92%, while over the last month, the change stands at -6.09%. The current price of silver is 104200.0 per kg, reflecting an increase of 700 per kg.

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In the Multi Commodity Exchange (MCX), gold  April futures contracts at MCX opened higher today at Rs 86,380 per 10 gram, which is up by 0.22% or Rs 200. Silver March futures contracts also opened higher today. The prices surged to a day’s high of Rs were trading at Rs 95,589/kg, up by 0.52% or Rs 500. On Monday, gold April futures contract settled at Rs 86,184 per 10 grams with a gain of 0.20% while silver March futures contract settled at Rs 95,089 per kilogram with a loss of 1.15%.

In global markets, price of spot gold was little changed at $2,949.46, about $7 shy of the all-time high of $2,956.15 scaled in the previous session.  U.S. gold futures steadied at $2,965. Price of spot silver shed 0.3% to $32.27 an ounce, platinum dropped 0.3% to $963.35, and palladium was 0.3% lower at $937.27.

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