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Commodity market: Gold price rises for the first time this week

Mumbai: The price of the  yellow metal surged today for the first time this week. On the Multi-Commodity Exchange (MCX), the October gold futures surged 0.39% to Rs 47,419 for 10 grams. Silver futures were up by 0.32% to Rs 62,926 a kilogram.

In the international market, spot gold price rose by 0.18% to US dollar 1816.7 per ounce. Among the other precious metals, Silver plunged 0.06% to US dollar 25.2 per ounce and platinum rose 0.05% to US dollar 1078.0 per ounce.

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In the Kerala market, sovereign gold surged by Rs 160 to Rs 35,520 per 8 grams. One gram gold is priced at Rs 4440, higher by Rs 20. On Thursday, gold was priced at Rs 35,360.

‘Gold and silver showed extreme volatility on Thursday amid volatility in the dollar index. Both precious metals settled on a mixed note in the international market’, said Manoj Kumar Jain, Director, Head-Commodity & Currency Research, Prithvifinmart.


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