Mumbai: Gold price inched higher in the commodity market. The strengthening of the US dollar rising US bond yields has capped the gains of the yellow metal.
On the Multi Commodity Exchange (MCX), gold futures were trading higher by 0.12% or Rs 62 at Rs 51,505 per 10 gram. Silver futures climbed 0.59% or Rs 341 to Rs 57,960 per kg.
Also Read: Forex Market: Indian rupee gains against US dollar
In the Kerala market, price of sovereign gold reached at Rs 37,760, higher by Rs 80 per 8 gram. Yesterday, gold prices surged by Rs 520 per 8 gram. One gram gold is priced at Rs 4720.
In the international market, price of spot gold inched up 0.2% to $1,758.94 per ounce. US gold futures rose 0.3% to $1,775.10. The yellow metal rose 1.9% since mid-May. Among other precious metals, silver gained 0.3% to $20.04 per ounce, platinum eased 0.2% to $886.24 and palladium rose 0.8% to $2,095.13.
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