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Commodity Market: Gold prices shoot up

Mumbai: The price of sovereign gold has edged higher in the Kerala market. The price mounted by Rs. 80 and reached Rs. 36,720 per 8 gram. One gram gold is priced at Rs.4590, higher by Rs.10. On Monday, the gold was priced at Rs. 36,640.

On the Multi Commodity Exchange (MCX), the price of gold and silver futures slipped down. August gold futures were marginally lower at Rs. 49,131 per 10 gram. Silver futures fell by 0.3% to Rs. 71,619 per kg. In the previous session, both gold and silver had inched up by 0.35% each.

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In the international markets, the price of spot gold remained firm at US dollar 1,900 per ounce. Among other precious metals, silver rose 0.1% to US dollar 27.89 per ounce while platinum mounted 0.1% higher to US dollar $1,174.02. The world’s largest gold-backed exchange-traded fund, SPDR Gold Trust’s s holdings fell 0.6% to 1,037.33 tonnes.


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