Mumbai: The price of precious metals –gold and silver- has slipped down in the commodity market. On the Multi Commodity Exchange (MCX), the gold futures edged lower by 0.15% to Rs.49,363 per 10 gram. Silver futures also slipped down by 0.6% to Rs.71,832 per kilogram. On Tuesday, gold had risen to over a 4-month high of Rs.49,700 per 10 gram.
In the last two months, the price of gold has mounted by Rs. 5000 in India. But even now, the gold price is down by Rs. 7000 from its last year’s record high of Rs.56,200.
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In the international market, the price of spot gold was down 0.1% at US dollar 1,898.58 per ounce. On Tuesday, the price of spot gold has touched a near 5-month high of US dollar 1,916.40 per ounce. Among other precious metals, silver edged 0.1% lower to US dollar 27.88, and platinum was firm at US dollar 1,191.
Meanwhile, the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust’s holdings rose 0.3% to 1,045.83 tonnes.
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