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Commodity Market: Gold price slips down

Mumbai:  Sovereign gold prices depreciated in Kerala today. The yellow metal is priced at Rs 46,480, down by Rs 160 per 8 gram. One gram gold is priced at Rs 5810, down by Rs 20. Yesterday, gold price gained by Rs 120 per 8 gram and Rs 15 per 1 gram.

On the Multi Commodity Exchange (MCX), gold  futures settled  at Rs.62885.0 per 10 gram, down by 0.127%. Silver  futures ended at Rs.73341.0 per kg, down by 0.027% . In major markets, price of  of 24 carat gold is Rs.6397 per gram. The cost of 22 carat gold is Rs.5865 per gram.

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In global markets, price of spot gold was flat at $2,053.09 per ounce. Price of gold  has climbed 1.8% so far this week, set for its best weekly gain since late-December.  U.S. gold futures were flat at $2,070.30 per ounce. Price of spot gold rose nearly 1% on Thursday after data from the U.S. Labor Department showed initial jobless claims rose more than expected last week. Price of spot silver fell 0.3% to $23.10 per ounce, platinum shed 0.5% to $908.55, while palladium edged 0.1% higher to $962.91.

 

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