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Commodity Market: Gold price decline again

Mumbai: Sovereign gold price declined in Kerala for second day in a row. Yellow metal is trading at Rs 53,680, down by Rs 280 per 8 gram. Yesterday, gold price declined by Rs 160 per 8 gram.

In other major markets, gold prices saw a slight decrease on Tuesday. The cost of 24 carat gold is Rs.7434.6 per gram down by Rs.473. The cost of 22 carat gold is Rs.6810.1 per gram down by Rs.433. The price change in 24 carat gold in the last one week has been -2.17%, whereas in the last month it has been -1.29%. The cost of silver is Rs.92010  per kg up by Rs.1210 per kg.

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On the multi Commodity exchange, gold futures opened at Rs 72,533 per 10 gram on Tuesday, showing a Rs 500 fall so far this week. Silver futures traded flat, opening at Rs 93,133/kg, down by Rs 160 in the week.On Monday, gold futures  settled at Rs 72,333 per 10 gram with a loss of 0.98% and silver  futures  settled at Rs 92,614 per kilogram with a loss of 1.00%.

In global markets, price of spot gold was down 1.5% to $2,354.59 per ounce. U.S. gold futures slipped 1.5% to $2,362.70. Price of spot silver slipped 1.8% to $30.64 per ounce, platinum fell 2.5% to $1,001.60 and palladium dipped 2% to $1,005.98.


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