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Commodity Market: Gold price shoots up

The price of gold and silver has surged in the commodity market. In Kerala market, the price of sovereign gold has surged by Rs. 1000 in the last 5 days. The price of sovereign gold has reached at Rs. 38,400 higher by Rs.320 per 8 gram. One gram gold is rated at Rs. 4800 up by Rs.40.

On the Multi Commodity Exchange (MCX), the gold futures were down 0.03% to Rs.51,410 per 10 gram . Silver futures were up 0.48% to Rs. 70,373 per kg. In the previous session, silver had surged about Rs.2,000 per kg. Gold has surged by Rs. 1200 in the previous session.

In the international market, the price of spot gold was down 0.2% to US dollar 1,938.11 per ounce. Among other precious metals, silver was little changed at US dollar 27.22 an ounce while platinum lost 0.6%.

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