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Commodity Market: Gold prices fall again

The price of gold has once again slipped down in the commodity market. On the Multi Commodity Exchange (MCX), the June gold futures fell 0.3% to near one-year low of Rs.44,300. The silver futures declined 0.8% to Rs. 62,617 per kg. In the previous session, gold had declined 0.5% while silver had tumbled 1.7%.

In the international market, the price of spot gold was down 0.1% to US dollar 1,683.56 per ounce. Among other precious metals, silver was steady at US dollar 24.01, while platinum rose 0.5% to US dollar 1,160.05 and palladium was up 0.7% at US dollar 2,607.04.

In the Kerala market, the price of sovereign gold reached at Rs.32,880, lower by Rs.200 per 8 gram. One gram gold is priced at Rs.4110 down by Rs. 25.  In the last 8 months the price of gold has slipped by Rs. 9120.

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