Mumbai: The price of gold edged lower in the commodity market. In the Kerala market, the price of sovereign gold slipped by Rs.120 and reached at Rs. 36,280 per 8 gram. One gram gold is priced at Rs. 4535, lower by Rs.15. Gold was priced at Rs. 36,880 in the beginning of the month. It later touched Rs. 36,960. In the last two weeks, the price of yellow metal slipped down by Rs.700.
On the Multi Commodity Exchange (MCX), the August gold futures rose by 0.11% to Rs.48,476 per 10 gram. Silver future also up by 0.4% to Rs.71,547 per kilogram. On Tuesday, the gold futures dropped 0.2% while silver fell 0.8%.
In the international market, the price of spot gold was down 0.2% at US dollar 1,855.12 per ounce. Among other precious metals, silver eased 0.1% to US dollar 27.62 per ounce.