Mumbai: price of sovereign gold edged lower in the kerala market. Sovereign gold is trading at Rs 38,120, lower by Rs 80 per 8 gram. One gram gold is priced at Rs 4765, down by Rs 10.
On the Multi Commodity Exchange (MCX), gold futures is trading at Rs 50,831 per 10 gram, higher by 0.19% or Rs 96. Silver futures gained by 0.40% or Rs 241 to Rs 60,985 per kg. As per market experts, the weakening of the US dollar supported the yellow metal. A weaker dollar makes greenback-priced bullion become more attractive for buyers holding other currencies.
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In the international market, spot gold is priced at $1,841.13 per ounce, up by 0.2%. US gold futures firmed by 0.1% to $1,842.90. Among other precious metals, silver rose by 0.5% to $21.68 per ounce, platinum climbed by 0.7%to $937.88 and palladium gained by 0.7% to $1,859.40.
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