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Commodity Market: Gold prices fall sharply, declined by 7000 rupees

The price of sovereign gold has slipped down sharply in the Kerala market. The price has reached at Rs.35000 per 8 gram. One gram gold is priced at Rs.4375. Price of gold has declined by Rs.7000 in last 8 months.

On the Multi Commodity Exchange (MCX), gold futures were up 0.3% to Rs.46,857 per 10 gram while silver surged 0.6% to Rs.67,239 per kg. On Thursday, gold had dropped over Rs. 1,000 or 2% per 10 gram while silver had slumped Rs.1,500 or 2.1% per kg.

in the international market, the price of spot gold surged by 0.2% to US dollar. 1795.30 per ounce. Spot silver shed 0.1% to US dollar 26.27 an ounce. Among other precious metals, platinum lost 0.1% at US dollar 1,095.93 an ounce and palladium gained 0.6% to US dollar 2,296.23

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