Mumbai: Price of gold dropped on Wednesday. The higher US Treasury yields weighed on the yellow metal. The expectations over the US Federal Reserve monetary policy outcome also influenced investors.
On the Multi Commodity Exchange (MCX), gold futures slipped down by 0.38% or Rs 195 down at Rs 50,613 per 10 gram. Silver futures were trading lower by 0.27% or Rs 173 at Rs 62,876 per kg.
Also Read: Forex Market: Indian rupee gain against US dollar
In the international market, price of spot gold was down by 0.3% at $ 1,862.48 per ounce. US gold futures fell by 0.4% to $ 1,82.40. Among other precious metals, silver dipped by 0.1% to $ 22.54 per ounce, platinum remained unchanged at $ 961.62 and palladium gained by 0.2% to $ 2,260.28.
In the Kerala market, sovereign gold is trading at Rs 37,600, lower by Rs 160. One gram gold is priced at Rs 4700,down by Rs 20. In the last one week, price of yellow metal depreciated by Rs 1600.
Post Your Comments