The price sovereign gold has surged in the commodity market. In the Kerala market, the price sovereign gold has reached at Rs. 33,960 higher by 280. One gram gold is priced at Rs. 4245 up by Rs. 35. Gold prices has slipped down sharply on Tuesday.
On the Multi Commodity Exchange (MCX), the old futures were down 0.6% to Rs.45283 per 10 gram. The price of gold futures has once again declined and this the sixth day of decline in previous seven days. Silver futures were down 0.3% at Rs. 69000 per kg.
In the international market the price of spot gold declined 0.2% at US dollar 1,734.16 per ounce. Among other precious metals, silver dipped 0.3% to US dollar 26.67 an ounce, while palladium climbed 0.6% at US dollar 2,376.50. Platinum slipped down by 0.3% to US dollar 1,200.50.