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Commodity Market: Gold prices shoots up

The price of gold has surged again in the commodity market. In the Kerala market, the price of sovereign gold has   reached at  Rs.33,600 up by Rs. 240 per 8 gram. One gram gold  is priced at Rs.4200 up by Rs. 30.

In the international market the price of spot gold has surged by 0.5% and reached at US dollar 1708.51 per ounce.  .Among other precious metals, silver surged to US dollar 25.76 an ounce while platinum gained 1.1% to US dollar 1,142.60.

On the Multi Commodity Exchange (MCX),  gold futures were 0.07% lower at Rs.44653 per 10 gram.  Silver futures rose 1.3% to Rs.66,465 per kg. Gold prices in India are down over Rs.5,000 from the start of this year and as compared to August highs of Rs.56,200, the precious metal is off about Rs.11,500.

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