Mumbai: Price of sovereign gold edged higher sharply in Kerala. On Saturday, the price of a sovereign of gold increased by Rs 520 per 8 gram to reach Rs 42,520 or Rs 5,315 per gram. The price increased twice on Saturday, Rs 200 in the morning and Rs 320 in the afternoon.
On the Multi Commodity Exchange (MCX), gold futures settled at Rs 56,898 per 10 gram . Gold futures are down 1.54% or by Rs 885 on the month-to-date basis while they have gained 3.09% or by Rs 1,713 on the year-to-date basis. As for Silver futures, the declines are to the tune of 4.11% or Rs 2,870 in September while the declines this year stand at 3.45% or Rs 2402.
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In international commodity market, spot gold price finished at $1,832.50 per ounce. U.S. gold futures rose 0.1% to $1,834.10. Spot silver gained 0.3% to $20.96, platinum firmed 0.2% to $856.30 and palladium rose 0.6% to $1,148.
Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.2% to 867.58 metric tonne. It is the lowest since August 2019. On Comex, gold futures were trading at $1,837.50 per troy ounce, up by $5.70 or 0.31% while silver futures were at $21.160, higher by $0.141 or 0.670%.
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