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Commodity market: Gold price shoots up

In the commodity market the price of gold has rised again. The price of yellow metal has touched an all-time high on Tuesday.

In the Indian market, the price of yellow metal has rised by Rs.2 per gram and reached at Rs.4380 per gram. Sovereign gold is priced at Rs.35040 per 8 gram.

But on Multi Commodity Exchange (MCX) gold futures were down marginally at ?47,137 per 10 gram. Silver prices saw some profit-taking after their strong run. On MCX, July silver futures were down 0.21% to ?50,505 per kg.

In the international market, spot gold was down 0.1% at US dollar 1,738.12 per ounce. Among other precious metals, platinum was up 0.3% to US dollar 850.19, while silver fell 0.5% to US dollar 18.17.

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