Mumbai: Price of sovereign gold edged lower marginally from its all-time high price in Kerala. Gold is priced at Rs 64,400, down by Rs 200 per 8 gram. One gram gold is priced at Rs 8050, down by Rs 25. Yesterday, gold price gained by Rs 160 per 8 gram to all-time high of Rs 64,600 per 8 gram. old 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 Wednesday. The cost of 24 carat gold is Rs.8827.3 per gram, reflecting an increase of Rs 220. The cost of 22 carat gold is 8093.3 per gram, a rise of Rs 210. The price fluctuation of 24 carat gold over the past week is recorded at -0.11%, while over the last month, the change stands at -6.28%. The current price of silver is 104000 per kg, reflecting an decrease of 200 per kg.
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In the Multi Commodity Exchange (MCX), gold April futures contracts at MCX settled higher Tuesday at Rs 86,380 per 10 gram, which is up by 0.22% or Rs 200. Silver March futures contracts also opened higher on Tuesday. 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%. The MCX will remain closed today due to Shiratri.
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.