Mumbai: Price of sovereign gold edged lower in Kerala again. Gold is priced at Rs 65,800, down by Rs 480 per 8 gram. One gram gold is priced at Rs 8225, down by Rs 60. Yesterday, gold price fell by Rs 200 per 8 gram. Thus gold price declined below Rs 66,000 mark. In last four days, gold price declined by Rs 2680 per 8 gram.
Before that, gold price gained by Rs 3000 per 8 gram in ten days. Gold was priced at Rs 57,200 per 8 gram and Rs 7150 per 1 gram on January 1 this year. In last three months, gold price gained by Rs 1360 per 1 gram and Rs 10,880 per 8 gram.
In other major markets, 24-carat gold was priced at Rs 87,600/10 gram. 22-carat gold was priced at Rs 80,300/10 gram. Silver, is was priced at Rs 89,350/kg.
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In the Multi Commodity Exchange (MCX), gold June futures contracts began Tuesday’s session higher by Rs 611 or 0.7% at Rs 87,539/10 grams. Silver May futures contracts opened higher by Rs 752 or 0.85% at Rs 89,000/kg. On Monday, gold June futures contract settled at Rs 86,928 per 10 gram with a loss of 1.30% while silver May futures contract settled at Rs 88,248 per kilogram with a gain of 1.19%.
In global markets, price of spot gold was up 0.3% at $2,990.48 an ounce. Bullion hit its lowest level since March 13 on Monday. U.S. gold futures gained 1.1% to $3,004.70. Price of spot silver fell 0.1% to $30.08 an ounce, platinum firmed 0.6% to $918.55 and palladium lost 0.9% to $910.50.
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