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Commodity Market: Gold prices shoots up

The price of gold has surged in the commodity market. In the Kerala market, the price of sovereign gold has surged by Rs. 440 and reached at Rs. 33,320 per 8 gram. One gram gold is priced at Rs. 4165 higher by Rs. 55. On Wednesday gold was priced at Rs. 32,880 per 8 gram and Rs.4110 per one gram.

On the Multi Commodity Exchange (MCX), the June gold futures were flat Rs.44,977 per 10 gram. Silver silver futures were down 0.35% at Rs.63,595 per kg. On Wednesday, gold had risen 1% while silver 0.9%.

In the international market, the price of spot gold was up 0.2% at US dollar1,710.28 per ounce. Among other precious metals, silver dipped 0.1% to US dollar 24.36, while platinum was down 0.3% at US dollar 1,184.

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