Commodity Market: Gold price edge lower for third day in a row

Mumbai: Price of gold edged lower for third day in a row in Kerala. Sovereign gold is trading at Rs 44,460, down by Rs 240 per 8 gram. In the last two days, the yellow metal witnessed a decline of Rs 520 per 8 gram.

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In the international markets, price of spot gold held steady at $1,959.15 per ounce. U.S. gold futures edged 0.1% higher to $1,961.70. The precious metal is set for a 2.6% weekly drop – its biggest fall since February. Among other precious metals, spot silver rose 0.1% to $23.53 per ounce, platinum added 0.2% to $1,050.94, palladium climbed 1% to $1,467.38.