Mumbai: Price of sovereign gold edged lower sharply in Kerala for second straight day. Gold price declined below Rs 71,000 mark. Gold is priced at Rs 70,120, down by Rs 920 per 8 gram. One gram gold is priced at Rs 8765, down by Rs 105.
Yesterday, gold price declined by Rs 1320 per 8 gram. In last tow days, gold price fell by Rs 2280 per 8 gram. On April 22, gold price crossed Rs 74,000 for first time. On April 21, gold price crossed Rs 72,000 mark for first time. On April 17, gold price crossed Rs 71,000 mark for first time in the state. Gold price crossed Rs 70,000 mark on April 13. Gold was priced at Rs 57,200 per 8 gram and Rs 7150 per 1 gram on January 1 this year.
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In other major markets, 24-carat gold was priced at Rs 94,690/10 gm. Further, 22-carat gold was priced at Rs 86,799/10 gm. And, silver prices today are at Rs 96,320/kg
In the Multi Commodity Exchange (MCX), gold June futures contracts hit a day’s low of Rs 92,975/10 gram. This marks a sharp fall of nearly Rs 6,500 for the yellow metal from its peak of Rs 99,358/10 grams, made on April 22. Meanwhile, the prices of silver July contracts were trading nearly 1% higher or by Rs 943 at Rs 96,287/kg around 10 am.
In global markets, price of spot gold held its ground at $3,235.37.86 an ounce. U.S. gold futures rose 0.5% to $3,243.50. Price of spot silver eased 0.2% to $32.54 an ounce, platinum rose 0.6% to $980.05 and palladium fell 0.7% to $980.05.
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