Mumbai: Gold prices dropped marginally in the commodity market. As per market experts, the lower US Treasury yields supported the yellow metal. But, the buoyancy in the US dollar dented its appeal.
On the Multi Commodity Exchange (MCX), gold futures dropped marginally down by 0.10% or Rs 51 at Rs 50,771 per 10 gram. Silver futures traded lower, down by 0.45% or Rs 272 at Rs 59,921 per kg.
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Price of sovereign gold slipped down marginally in Kerala. Sovereign gold is trading at Rs 37,400, down by Rs 80 per 8 gram. Yesterday, price of gold slided down by Rs 640 per 8 gram. One gram gold is priced at Rs 4675, down by Rs 10.
In the international market, price of spot gold was up 0.1% at $1,821.57 per ounce. US gold futures gained 0.1% at $1,823.10. Among other precious metals, silver remained unchanged at $20.84 per ounce, platinum rose by 0.5% to $914.64 and palladium gained by 2% to $1,910.43.
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