Mumbai: Gold price surged marginally in the commodity market. The expectations over the interest rate increases by the US Federal Reserve supported the upward rally of the yellow metal.
On the Multi-Commodity Exchange (MCX), gold futures gained by 0.03% to Rs 47,965 for 10 gram. Silver futures had slipped 0.14% to Rs 62,138 a kilogram.
In the Kerala market, price of sovereign gold reached at Rs 36,120 per 8 gram, higher by Rs 200. One gram gold is priced at Rs 4515, up by Rs 25. In the international market, price of spot gold remain unchanged at $1,813.91 per ounce. US gold futures were flat at $ 1,813.80.