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Commodity Market: Gold prices edge higher for third day in a row

Mumbai: Sovereign gold price appreciated in Kerala for third day in a row. Yellow metal is priced at Rs 53,680, up by Rs 200 per 8 gram.  One gram gold is trading at Rs 6170, up by Rs 25. Yesterday, gold price edged higher by Rs 160. In last three days, yellow metal price gained by Rs 560 per 8 gram.

In other major markets, gold prices saw a slight increase on Wednesday. The cost of 24 carat gold is Rs.7424.3 per gram up by Rs.464.The cost of 22 carat gold is Rs.6800.7 per gram up by Rs.425. The price change in 24 carat gold in the last one week has been 3.25%,whereas in the last month it has been 0.97%. The cost of silver is Rs.93400 per kg up by Rs.2410 per kg.

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On the Multi Commodity Exchange (MCX), gold  futures opened on Wednesday at Rs 72,203 per 10 gram, up 0.03% or Rs 23 while. Silver futures opened 0.23% higher at Rs 95,670/kg. In the last three days, silver prices have risen by Rs 5,100 per kg.

In global markets, price of spot gold was down 0.1% at $2,357.70 per ounce. U.S. gold futures were up 0.1% at $2,358.30. Price of spot silver fell 0.5% to $31.95 per ounce, platinum was down 0.9% at $1,054.10 and palladium gained 0.1% to $973.47.


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