The price of gold has declined in the commodity market for the fourth day in a row. The price of gold has reached near 8-month lows.
On the Multi Commodity Exchange (MCX), gold futures were up down 0.8% to Rs. 45,920 per 10 gram. Silver futures were down 1.5% to Rs. 69400 per kg. As compared to August highs of Rs. 56,200, gold is down about 18% or about Rs.10,000.
In the Kerala market, the price of sovereign gold has reached at Rs. 34,600 down by Rs.120 per 8 gram. One gram gold is priced at Rs. 4325 lower by Rs. 15. On Thursday gold was settled at Rs. 34,720.