Mumbai: Price of gold edged lower sharply for second day in row in the commodity market. Today price of yellow metal depreciated by Rs 560 per 8 gram. Yesterday, gold priced slided down by Rs 200 per 8 gram. Sovereign gold is trading at Rs 37,520 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures fell sharply. Gold futures declined 1.7% or Rs 950 per 10 gram to Rs 51,037 per 10 gram. This is gold’s biggest single-day fall in about 3 months. Silver futures tumbled Rs 1,650 or 2.7% to Rs 59,149 per kg.
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In international markets, the yellow metal was down 0.7% at $1,682 per ounce.
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