In the commodity market the price of gold has again slipped down. On the Multi Commodity Exchange (MCX), the price of gold futures declined 0.2% to Rs. 48,171 per 10 gram while silver rates fell 0.48% to Rs. 49,187. Gold had hit a record high of Rs. 48,982 per 10 gram earlier this week but could not sustain the gains.
In the Kerala market the price of sovereign gold was up by Rs. 360 per 8 gram and reached at Rs. 36,160 per 8 gram. Gold is priced at Rs. 4520 up by Rs.45 per gram.
In the global markets the price of spot gold fell 0.1% to US dollar 1,773.13 per ounce while US gold futures shed 0.3% to Us dollar 1,785.60. On Wednesday, gold prices touched a near eight-year high of US dollar 1,788.96. Among other precious metals, platinum rose 0.1% to Us dollar 803.91 while silver was steady at US dollar 17.90.
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