Mumbai: The price of precious metals- gold and silver- edged lower in the commodity market. On the Multi Commodity Exchange (MCX), the August gold futures were down by 1.5% to Rs.47,799 per 10 grams and silver futures dipped by 1.6% to settle at Rs.70,345 per kilogram
In the international market, spot gold prices surged by 0.6% to US dollar 1822.36 per ounce. Among other precious metals, silver gained 0.5% to US dollar 27.09 per ounce, palladium dropped 1% to US dollar 2,770.49, while platinum rose 0.5% to US dollar 1,127.49.
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In the Kerala market, the yellow metal showed a decline in prices in the last two weeks. The price of sovereign gold fell by Rs.400 per 8 gram to reach Rs.35,880, whereas, on Wednesday, gold had settled at Rs.36,280. Latest rates show one gram of gold priced at Rs.4485, lower by Rs.50.
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