Mumbai: Gold prices edged higher marginally in the commodity market. The weakening of the US dollar and expectations over an interest rate by US Federal Reserve have supported the precious metal.
On the Multi Commodity Exchange (MCX), gold futures were trading marginally higher by 0.08% or Rs 42 at Rs 50,622 per 10 gram. Silver futures jumped by 0.23% or Rs 132 at Rs 57,880 per kg.
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In the international market, price of spot gold rose 0.3% to $1,653.28 per ounce. US gold futures were up 0.2% at $1,657.70. Among other precious metals, silver rose 0.4% to $19.33 per ounce, platinum was flat at $925.00 and palladium rose 0.7% to $1,982.33.
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