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Commodity Market: Gold prices slips down third day in a row

The price of gold has slipped down again. This is the third day in  a row that the price of gold is declining.  On the Multi Commodity Exchange (MCX), the February gold 0.02% to R.s49,131 per 10 gram.  the previous session, gold had slipped 0.5% . Silver futures on MCX today however rose 0.4% to Rs.66,885 per kg.

In the international market, the price of spot gold rose 0.3% to US dollar 1,858.57 per ounce after dropping 0.9% in the previous session.

Also Read: Indian Rupee gains against US dollar 

Meanwhile, holdings of the world’s largest gold-backed exchange-traded fund or gold ETF, SPDR Gold Trust, eased 0.07% to 1,173.25 tonnes on Friday. Among other precious metals, silver today gained 0.9% to US dollar 25.61 an ounce while platinum rose 0.6% to US dollar 1,105.06.

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