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Commodity Market: Gold price hits new high

Mumbai: Sovereign gold price touched an all-time high today in Kerala. Price of yellow metal crossed Rs 47,000 mark. Sovereign gold is trading at Rs 47,080, up by Rs 320 per 8 gram. One gram gold is priced at Rs 5885, up by Rs 40. On Saturday, yellow metal gained by Rs 600 per 8 gram to reach at 46,760. Yesterday, gold price remained unchanged.

On the Multi Commodity Exchange (MCX),  gold futures were trading at Rs.63,760.0 per 10 gramm, an increase of 1.027%. Silver futures were trading at Rs.79,313.0 per kg, up by 0.243%.

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In global markets, gold prices soared to a record high above $2,100 on Monday. The Yellow metal touched $2,135.39 in early trade, topping the previous all-time high set in 2020, during the pandemic.

Price of  spot gold was up 0.7% at $2,085.76 per ounce.  U.S. gold futures rose nearly 1% to $2,107.60. Price of spot silver rose 0.1% to $25.45 per ounce, palladium fell 0.4% to $929.93 per ounce, and platinum was down 0.1% at $999.35.

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