Mumbai: Gold price appreciated sharply in the commodity market. Sovereign gold price surged by Rs 600 per 8 gram today. Yesterday, gold price gained by Rs 160 per 8 gram. Sovereign gold is trading at Rs 39,000 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures were trading lower by 0.34% or Rs 183 at Rs 52,879 per 10 gram. Silver futures plunged 0.73% or Rs 454 to Rs 61,543 per kg.
In the global markets, price of spot gold was down 0.4% at $1,766.79 per ounce. US gold futures fell 0.3% to $1,769.90. Among other precious metals, silver dipped 0.5% to $21.36 per ounce, platinum fell 0.5% to $1,001.20 and palladium was down 0.7% at $2,057.18.