Mumbai: price of gold surged marginally in the commodity market. As per market experts, the fall in US treasury yields supported the yellow metal. US treasury yields slipped as the US consumer price data suggested inflation might have peaked in April.
On the Multi Commodity Exchange (MCX), gold futures were trading higher by 0.18% or Rs 93 up at Rs 50,915 per 10 gram. Silver futures dropped by 0.37% or Rs 227 to Rs 60,526 per kg.
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According to the Indian Bullion and Jewellers Association, yellow metal was trading at Rs 51,205 per 10 gram and silver is priced at Rs 61,450 per kg in the bullion market.
In the international market, spot gold is priced at $ 1,855.11 per ounce, higher by 0.2%. US gold futures rose by 0.2% to $ 1,856.90. Among other precious metals, silver was up by 0.1% to $ 21.57 per ounce, platinum dipped by 0.2% to $ 990.64 and palladium fell by 0.7% to $ 2,021.16.
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