In the commodity market the price of gold has crashed down.
In the Kerala market, the price of sovereign gold has slipped down by Rs.1600 for 8 gram and reached at Rs. 39,200. One gram gold is at Rs. 4900 down by Rs.200.
On the Multi Commodity Exchange (MCX) October gold futures were down 3% or Rs. 1,500 to Rs. 50,441 per 10 gram. Silver futures on MCX tumbled 5% or Rs. 5,000 per kg to Rs. 61972.
In the global market, the price of gold has fallen below US dollar. Price of spot gold sank as much as 2.1% to US dollar 1,872.61 an ounce while US futures were below US dollar 1,900. Silver futures also dropped sharply, and were down 7% at US dollar 24.2 an ounce.
Post Your Comments