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Commodity Market: Gold prices slips down for second day

In the commodity market the price of gold has slipped down for the second day.The price of the yellow metal has gone downward after hitting a record high.

In the Kerala market, the sovereign gold was up by Rs. 8 per gram and reached at Rs.36,168 per 8 gram. One gram of gold is priced at Rs.4521 up by Rs.1.

In the Multi Commodity Exchange (MCX) the futures were were down 0.16% to Rs. 48,188 per 10 gram after sliding Rs. 500 in the previous session. Gold had hit a record high of Rs. 48,982 in the previous session . Silver futures on MCX were down 0.25% to Rs. 49,300 per kg after slumping Rs. 900 in the previous session.

In the international market, spot gold fell 0.2% to US dollar 1,767.11 per ounce, after touching US dollar 1,788.96 on Wednesday — its highest since October 2012. US gold futures today fell 0.2% to US dollar 1,777.30.Among other precious metals, platinum fell 0.2% to US dollar 813.94 and silver rose 0.2% to US dollar 17.97.

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