Mumbai: Price of yellow metal depreciated in the commodity market for second day in a row. Gold prices slipped sharply to lowest levels in the last two days. The demand for US treasury yields and strengthening of the US dollar weighed upon the precious metal.
On the Multi Commodity Exchange (MCX), gold futures is trading at Rs 50,611 per 10 gram, lower by 0.46% or Rs 236. Silver futures dropped by 0.50% or Rs 308 to Rs 60,817 per kg.
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In the Kerala market, sovereign gold is trading at Rs 38,000, down by Rs 200 per 8 gram. One gram gold is priced at Rs 4750, lower by Rs Rs 25.
In the international market, price of spot gold remained unchanged at $1,835.28 per ounce. US gold futures fell by 0.6% to $1,838.20. Among other precious metals, silver remained firm at $21.53 per ounce, platinum gained by 0.2% to $966.68 and palladium surged by 0.1% to $2,000.81.
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