Mumbai: Gold prices edged lower sharply on Wednesday to weekly lows following strength in US dollar and treasury yields, which dented bullion demand. On the Multi Commodity Exchange (MCX), gold futures slipped lower by 0.56%, or Rs 256, down to Rs 52,453 per 10 gram. Silver futures were trading lower by 0.64% or Rs 438 at Rs 68,332 per kg.
In the Kerala market, price of sovereign gold reached at Rs 35,800, lower by Rs 240 per 8 gram. One gram gold is priced at Rs 4475, down by Rs 30.
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In the international market, price of spot gold was down by 0.3% at $ 1,944.77 per ounce. US gold futures fell by 0.6% to $ 1,947.70. Among other precious metals, spot silver dipped by 0.6% to $ 25.00 per ounce, platinum eased 1.3% to $ 977.93 and palladium gained by 0.4% to $ 2,380.29.
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