Mumbai: Gold price edged lower sharply in the commodity market. This is for the second day in a row that the price of yellow metal is slipping down. In Kerala, sovereign gold is trading at Rs 37,200, lower by Rs 400 per 8 gram. Yesterday, gold price depreciated by Rs 200 per 8 gram. One gram gold is priced at Rs 4650.
On the Multi Commodity Exchange (MCX), gold futures were trading lower by 0.41% or Rs 206 at Rs 50,208 per 10 gram. Silver futures tanked 1.67% or Rs 885 at Rs 52,266 per kg.
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In the international market, price of spot gold fell 0.2% to $1,706.99 per ounce. US gold futures shed 0.5% to $1,717.50. Among other precious metals, spot silver dropped 0.8% to $17.83 per ounce, platinum fell 0.9% to $838.24 and palladium slipped 0.6% to $2,072.09.
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