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Commodity Market: Gold price shoots up

Mumbai: Price of yellow metal surged in the Kerala market. Sovereign gold is trading at Rs 37040 per 8 gram, higher by Rs 400. One gram gold is priced at Rs 4680. As per market experts, the price of gold  continued to move higher as geopolitical concerns intensified. Heightened tensions between Russia and the West over Ukraine prompted investors to pull back from riskier assets and opt for safe-haven bullion.

Also Read; Forex Market: Indian rupee falls against US dollar 

On the Multi Commodity Exchange (MCX). Gold futures  were trading up by 0.57% or Rs 286 at Rs 50,202 per 10 gram. Silver futures jumped 0.50%  or Rs 323 at Rs 64,556


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