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Commodity Market: Gold prices edge lower for second day in a row

Mumbai:  Sovereign gold price depreciated for second day in a row in Kerala. Sovereign gold is trading at Rs 43,600, down by Rs 200 per 8 gram. Yesterday, yellow metal price declined by Rs 160 per 8 gram.

Price of gold declined and is trading near their weakest levels in a month in global markets. Price of s pot gold was flat at $1,900.49 per ounce. U.S. gold futures eased 0.1% to $1,918.20. Price of spot silver dropped 0.6% to $22.72 per ounce, platinum shed 0.2% to $901.95 and palladium rose gained 0.2% to $1,226.32.

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The holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.4%.

On the Multi Commodity Exchange (MCX),  gold futures were trading at Rs 58,818 per 10 gram, down Rs 120, or 0.20%. Silver futures were trading down Rs 572 at 71,205 per kg.

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