Mumbai: Gold price depreciated for second straight day in Kerala. Sovereign gold is priced at Rs 64080, down by Rs 320 per 8 gram. One gram gold is trading at Rs 8040, down by Rs 40. Yesterday, gold price edged lower by Rs 200 per 8 gram. On February 25, gold price gained by Rs 160 per 8 gram to all-time high of Rs 64,600 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 Thursday. 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 opened slightly lower on Thursday at Rs 85,744 per 10 grams, dropping 0.15% or Rs 130, however, have surged significantly by Rs 4,845/10 grams in just last one month. During the same period, silver March futures contracts have surged by Rs 3,717/kg. The same opened slightly higher today at Rs 94,768/kg, up by 0.13% or Rs 127.On Wednesday, gold April futures contract settled at Rs 85,874 per 10.
In global markets, price of spot gold was up 0.1% at $2,918.22 an ounce. U.S. gold futures rose 0.1% to $2,932.30.Price of spot silver rose 0.1% to $31.87 an ounce, platinum fell 0.1% to $965.10 and palladium eased 0.1% to $925.95.