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Commodity Market: Gold prices slips down

The price of gold has slipped down in the commodity market. On the Multi Commodity Exchange (MCX), the gold futures edged lower to Rs.44,590 per 10 gram. Silver futures edged lower to Rs.64,840 per kg. On Thursday, gold fell 0.35% while silver declined 0.5%.  Earlier this month, gold prices had dropped to nearly one-year lows of Rs.44,150. After today’s fall, the precious metal is down about Rs.11,500 from August highs of Rs.56,200.

In the Kerala market, the price of sovereign gold has reached at Rs. 33,360 down by Rs.240 per 8 gram. One gram gold is priced at Rs. 4170 down by Rs.30.

In international  markets, the price of spot gold remained unchanged  US dollar 1,726 per ounce.  Among other precious metals, silver rose marginally to hold above US dollar 25 while palladium rose 0.2% to US dollar 2,614.51.

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