Mumbai: The price of precious metals- gold and silver- continued the downward rally in the commodity market. On the Multi Commodity Exchange (MCX), the August gold futures were down by 0.12% to Rs.48,619 per 10 gram. Silver prices fall by 0.1% to Rs.70,722 per kilogram. On Thursday, gold rates had slipped down by 2% or Rs. 950 per 10 gram while silver had crashed 2.5% or Rs.1,800 per kilogram.
Gold price in MCX has risen 5.58% in May, 4% in April and 2.87% in March this year, while on a year-to-date (YTD) basis, MCX gold has fallen 1.09%. The price of 22 and 24-carat gold is at Rs 47,110 and Rs 51,360 per 10 gm respectively.
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On the International market, the price of spot gold crashed by 0.4% to US dollar 1862.68 per ounce. On Thursday the gold rates had slipped by 2%. Among other precious metals, silver fell 0.5% today to US dollar $27.31 per ounce while platinum was down 0.7% at US dollar 1,148.50.
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