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Commodity Market: Gold price moves higher

Mumbai: Price of yellow metal gained  on Monday. The decision of some countries ban imports of gold  from Russia is the reason for the surge in the price.

On the Multi Commodity Exchange (MCX), gold futures gained by 0.28% or Rs 143 to  Rs 50,766 per 10 gram. Silver futures advanced by 0.82% or Rs 496 to Rs 60,915 per kg.

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In the Kerala market, sovereign gold is trading at Rs 38,120 higher by Rs 80 per 8 gram. One gram gold is priced at Rs 4765, up by Rs 10.

In the international market, price of spot  gold rose by  0.5% to $1,835.58 per ounce. US gold futures were up by 0.3% at $1,836.30. Among other precious metals,  silver rose by 1.2% to $21.36 per ounce, platinum gained by  0.5% to $912.00 and palladium climbed by 0.6% to $1,886.65.


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