The price of gold has declined in the commodity market. On the Multi Commodity Exchange (MCX), the gold futures were down 0.1% to Rs. 44,904 per 10 gram. Silver futures dipped 1% to Rs. 67,100 per kg. The price of gold have declined by more than Rs.10,000 from their last year peaks. Gold in August 2020 traded at Rs.56,200 per 10 gram and silver peaked at Rs. 77,800 per kg.
In the international markets, gold fell today. Spot gold today fell 0.4% to US dollar 1,730.06 an ounce. Silver fell 0.6% to US dollar 25.89 and platinum was down 0.7% at US dollar 1,198.19.
Meanwhile, the price of sovereign gold surged by Rs 32 , for 1 gram. The price of 10 grams of 22-carat-gold is Rs 44,280 witnessing a massive increase of Rs 320 from Rs 43,960 on the earlier day. The price of 24 carats gold also hiked by Rs 320 and stood at Rs 45,280 for 10 grams, compared to the earlier rate of Rs 44,960.