Mumbai: Price of sovereign gold edged higher marginally in Kerala. This is for second day in a row that gold price gaining. Gold price gained by Rs 80 per 8 gram to Rs 46,240. Yesterday, gold price gained by Rs 240 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures ended at Rs 61,884 per 10 gram, up Rs 115 or 0.19. Silver futures settled at Rs 71,626 per kg, marginally higher by Rs 11 or 0.02%. On Thursday, gold futures closed at Rs 61800, up Rs 31 or 0.05% while silver futures settled flat at Rs 71,658, higher by Rs 43 or 0.06%.
Gold futures has narrowed its losses to 2.05% or Rs 1,296 per 10 gram in 2024. Silver futures have trimmed this year’s losses to 3.73% or Rs 2,776 from 4.13% or Rs 3,076 per kg in the last five sessions. After ending 2023 with gains of 15.22% or by Rs 8,372 per 10 gram, MCX gold futures have started this year on a weak note.
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In global markets, price of spot gold edged 0.1% higher to $2,023.52 per ounce. However, it has fallen 1.2% so far in the week. U.S. gold futures rose 0.2% to $2,025.40. Price of spot silver rose 0.1% to $22.76 per ounce, platinum climbed 0.2% to $908.65, and palladium gained 0.8% to $945.24.
Comex Gold futures were trading at $2,024.20 per troy ounce, up $2.60 or 0.13% while silver futures were trading at $22.845, higher $0.038 or 0.170%.
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