Mumbai: The price of gold edged lower in the commodity market. In the Kerala market, the yellow metal showed a decline in prices in the last two weeks. The price of sovereign gold fell by Rs.480 per 8 gram to reach Rs.35,400, whereas, on Thursday, gold had settled at Rs.35, 880. Latest rates show one gram of gold priced at Rs.4425, lower by Rs.60.
On the Multi Commodity Exchange (MCX), the August gold futures were up by 0.33% to Rs.47,112 per 10 grams and silver futures dipped by 1 % to settle at Rs. 68,330 per kilogram. On Thursday, the price of silver has slipped by Rs. 3800 and gold by Rs.1500.
In the international market, spot gold prices surged by 0.6% to US dollar 1784 per ounce. Among other precious metals, silver gained 1.1 % to US dollar 26.12 per ounce.