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Commodity Market: Gold prices edges higher

Mumbai: The price of precious metals- gold and silver- has edged higher in the  commodity market. On the Multi Commodity Exchange (MCX), the gold futures surged by 0.25% to Rs. 48,662 per 10 gram. Silver futures also mounted by 0.6% to Rs. 72,033 per kilo. . Gold rates in India have jumped about Rs.2,000 so far this month.

In the international market,  the price of spot gold remained firm. Spot gold advanced 0.2% to US dollar 1,907 an ounce. The holdings of SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund, fell 0.1% to 1,043.21 tonnes. Among other precious metals, silver gained 0.2% to US dollar 27.94 while platinum rose 0.5% to US dollar 1,182.74.

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In the Kerala market, the price of sovereign gold reached at Rs. 36,720 per 8 gram, higher by Rs.80. One gram gold is priced at Rs. 4590, up by Rs.10. On Friday, gold was priced at Rs. 36,640 per 8 gram.

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