Mumbai: Price of gold dropped marginally on Monday. The strengthening of the US dollar and the rise in Treasury yields dented the demand for the yellow metal.
On the Multi Commodity Exchange (MCX), gold futures slipped down marginally by 0.10% or Rs 54 to Rs 51294 per 10 gram. Silver futures were trading lower by 0.24% or Rs 148 at Rs 62,400 per kg.
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In the international market, price of spot gold was down by 0.4% at $ 1,874.89 per ounce. US gold futures also slipped by 0.4% to $ 1,874.80. Among other precious metals, silver slipped by 0.5% to $ 22.23 per ounce, platinum fell by 1.6% to $ 948.00 and palladium dropped by 0.4% to $ 2,038.58.
In the Kerala market, sovereign gold is trading at Rs 38,000, higher by Rs 80 per 8 gram. One gram gold is priced at Rs 4750, up by Rs 10.
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