Mumbai: Price of yellow metal dipped lower on Monday to its new two-week lows. The expectations over the interest rate hike of US Federal Reserve have influenced the investors.
On the Multi Commodity Exchange (MCX), gold futures slipped by 0.42% or Rs 221 down at Rs 52,040 per 10 gram. Silver futures were trading sharply lower by 1.27% or Rs 856 at Rs 65,724 per kg.
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In the international market, price of spot gold was down by 0.3% at $ 1,923.74 per ounce. It is the lowest price since April 7. US gold futures were down by 0.6% at $ 1,923.30. Among other precious metals, silver dipped by 1% to $ 23.89 per ounce, platinum eased by 0.4% to $ 927.00 and palladium fell by 2.9% to $ 2,305.69.
In the Kerala market, price of gold remained unchanged. Sovereign gold is priced at Rs 39,200 per 8 gram. One gram gold is trading at Rs 4900.
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