Mumbai: Price of sovereign gold edged lower in Kerala for fifth straight day. Gold is trading at Rs 65,480, down by Rs 240 per 8 gram. One gram gold is priced at Rs 8185, down by Rs 30. Gold price declined by Rs 1000 per 8 gram in last five days.
In other major markets, gold prices experienced a modest decrease on Tuesday. The cost of 24 carat gold is Rs.8978.3 per gram, reflecting an decrease of Rs 210. The cost of 22 carat gold is 8231.3 per gram, a fall of Rs150. The price fluctuation of 24 carat gold over the past week is recorded at 0.2%, while over the last month, the change stands at -2.3%. The current price of silver in India is 104000 per kg, reflecting no change.
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In the Multi Commodity Exchange (MCX), gold April futures contracts opened flat at Rs 87,763, slightly lower by Rs 15 or 0.02%. Silver May futures contracts also opened flat at Rs 97,860, down by Rs 24 or 0.02%. Gold prices on MCX have fallen by Rs 2,000/10 g from its all-time high of Rs 89,796 while silver prices have been falling since the last 4 sessions. The same has tumbled by Rs 3,400/kg in the said time period.
In global markets, price of spot gold was down 0.1% at $3,010.72 an ounce. U.S. gold futures was steady at $3,015.10.Spot silver fell 0.2% to $32.94 an ounce, platinum eased 0.2% to $971.15 and palladium lost 0.1% to $950.29.
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