Mumbai: Gold price slipped down sharply in the Kerala market. Price of sovereign gold dipped by Rs 320 per 8 gram. In the last four days, the yellow metal suffered a loss of Rs 480 per 8 gram. Sovereign gold is trading at Rs 41,600 per 8 gram.
On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 56,165 per 10 gram, up Rs 39 or 0.7%. Silver futures were trading higher by Rs 239 at Rs 65,660 per kg.
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Globally, the yellow metal prices were flat as the US dollar pulled back. However, investors and traders remained cautious as fears of further rate hikes from the US Federal Reserve still loomed. Spot gold was up 0.3% at $1,840.94 per ounce. US gold futures rose 0.3% to $1,850.20.
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