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Commodity Market: Gold prices slips down

In the commodity market, the price of yellow metal has slipped again. Earlier in the week, the precious metal has touched a record high price.

In the Indian bullion market, the yellow metal was trading at Rs.4697 per 1 gram. It was declined by Rs.10. The sovereign gold was trading at Rs.37,576 per 8 gram. It was down by Rs. 80.

Spot gold was up 0.2% at US dollar 1,727.75 per ounce. Spot gold was slipped by 1.4% on Thursday. US gold futures rose 0.4% to US dollar 1,729.40. Gold had rallied to its highest since October 2012 on Monday, but has since lost ground and is now heading for a 0.7% weekly decline.

Palladium gained 0.1% to US dollar 2,015.76 . Platinum fell 0.6% to US dollar 827.83 and silver slid 1.4% per cent to US dollar 16.82.

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