Mumbai: Price of sovereign gold crossed Rs 44,000 mark in Kerala. Sovereign gold is trading at Rs 44,000, up by Rs 240 per 8 gram. Yesterday, the yellow metal gained by Rs 160 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures were trading up by Rs 30 or 0.05% at Rs 59,296 per 10 gram. Silver futures were trading at Rs 76,293 per kg, lower by Rs 147 or 0.19%. The gold futures had ended with gains of Rs 395 or 0.67% per 10 gram at Rs 59,282 on Tuesday. The silver futures closed higher at Rs 76,445, up by Rs 1,227 per kg or 1.63% yesterday. Gold futures are down 0.51% or by Rs 302 on the month-to-date basis while up 7.72% or by Rs 4,259 on the year-to-date basis. As for Silver futures, the declines are to the tune of 0.98% or Rs 742 in August while the gains this year stand at 7.60% or Rs 5,272.
In global markets, gold prices hit a three week high due to the weakening of the dollar index (DXY). Price of spot gold held its ground at $1,936.59 per ounce. U.S. gold futures steadied at $1,964.30.
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Price of spot silver fell 0.2% to $24.68 per ounce, but was hovering close to a one-month high. Platinum eased 0.1% to $975.14, having climbed to its highest level since July 19 in the previous session. Palladium shed 0.3% to $1,245.44.
On the Comex, Gold futures were trading at $1,952.10 per troy ounce on Wednesday, up by $5.30 or 0.27% while Silver futures were trading at $24.375, higher by $0.123 or 0.510%.
The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.3% to 889.23 metric tonne.
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