Mumbai: Sovereign gold price appreciated sharply in Kerala. In the morning, gold price edged higher by Rs 360 per 8 gram. Then, it again inched up by Rs 320 per 8 gram. Yellow metal is trading at Rs 53,600, up by Rs 680 per 8 gram. Yesterday, gold price declined by Rs 80 per 8 gram.
In other major markets in the country, gold prices saw a slight decrease on Friday. The cost of 24 carat gold is Rs.7321.8 per gram down by Rs.75. The cost of 22 carat gold is Rs.6706.8 per gram down by Rs.68. The price change in 24 carat gold in the last one week has been -0.76%, whereas in the last month it has been 0.12%. The cost of silver is Rs.82590 per kg up by Rs.82590 per kg.
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In the Multi Commodity Exchange (MCX), gold futures rose by Rs 442 or 0.62% to trade at Rs 72,081 per 10 gram. Silver futures were up by Rs 418 or 0.49% to Rs 84,917 per kg.
In global markets, price of spot gold was up 0.1% at $2,347.98 per ounce. Gold prices have risen 2% so far this week. U.S. gold futures rose 0.6% to $2,354.10. Price of spot silver fell 0.1% to $28.31 per ounce but was poised to register its best in five week. Platinum firmed 0.8% to $985.40 and palladium rose 0.1% to $968.25. Both metals were set for weekly gains.
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