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Commodity Market: Gold price appreciate marginally

Mumbai:  Price of sovereign gold edged higher marginally in Kerala on Monday. Gold price is gaining after four days. Yellow metal is priced at Rs 53,320, up by Rs 200 per 8 gram. One gram gold is priced at 6665, up by Rs 25. On Friday, gold price declined by Rs 720.

In other major markets, gold prices saw a slight decrease on Monday. The cost of 24 carat gold is Rs.7318 per gram down by Rs.72.The cost of 22 carat gold is Rs.6703.4 per gram down by Rs.66. The price change in 24 carat gold in the last one week has been 1.88%, whereas in the last month it has been 0.39%.The cost of silver is Rs.89940 per kg up by Rs.90  per kg.

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On the Multi Commodity Exchange (MCX), gold futures rose by Rs 309 or 0.43% to trade at Rs 71,565 per 10 gram on Monday. Silver futures  were up by Rs 1,185 or 1.3% to Rs 91,733 per kg.

In global markets, price of spot gold rose 0.2% to $2,338.85 per ounce. Prices hit its lowest since May 9 at $2,325.19 on Friday.  U.S. gold futures were up 0.3% at $2,340.20. Gold hit a record high of $2,449.89 earlier last week, but has shed more than $100 since then. Price of spot silver rose 0.8% to $30.59 per ounce, platinum was up 1.2% at $1,037.90 and palladium gained 1.6% at $979.25.



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