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Commodity Market: Gold prices edges lower

The price of gold has edged lower in the commodity market. On the Multi Commodity Exchange (MCX), the gold futures were down 0.3% to Rs.44,732 per 10 gram. The silver futures declined 0.7% to Rs.67,011.

In the international market, the price of spot gold has reached at US dollar 1,712.82 an ounce. Among other precious metals, silver today dipped 0.4% to US dollar 25.78 an ounce while palladium rose 0.2% to US dollar 2,300 and platinum fell 1% to US dollar 1,156.94.

The price of sovereign gold has reached at Rs 43,430 after witnessing a fall of Rs 250 from Rs 43,680. The price of 24-carat gold also decreased by Rs 250 for 10 grams to stand at Rs 44,430 from the earlier rate of Rs 44, 680.

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