Mumbai: Price of sovereign gold depreciated for fifth day in a row. In the last five days the yellow metal suffered a loss of Rs 480 per 8 gram. Today, price of precious metal declined by Rs 80 per 8 gram. Sovereign gold is trading at Rs 38,600 per 8 gram in Kerala.
On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 52,205 per 10 gram, down by Rs 84 or 0.16%. Silver futures were trading Rs 77 down at Rs 60,909 per kg.
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In the international markets, gold prices remained unchanged as traders remained cautious ahead of the US Federal Reserve decision regarding rate hikes. Spot gold was flat at $1739.90 per ounce. US gold futures edged 0.1% higher to $1741.60.
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