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Commodity Market: Gold prices edges lower

Mumbai: Gold prices slipped down in the Kerala market by Rs 160 to Rs 35,280 per 8 gram. One gram gold is priced at Rs 4430, down by Rs 20. Yesterday, the yellow metal was priced at Rs 35,440.

Gold prices fell sharply in the international markets amid the prospect of reduced Federal Reserve stimulus. Spot gold fell 0.7% to US dollar 1,774.41 per ounce. Silver also dropped sharply, falling 1.6% to US dollar 23.10 per ounce. Platinum dropped 0.8% to US dollar 986.49.

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In India, futures trading on MCX is closed today for the first half due Muharram. Trading will resume at 5 pm later today on MCX. On Wednesday, gold futures on MCX had settled 0.29% lower at Rs 47,141 per 10 gram while silver rates slumped 1.26% to Rs 62432 per kg.


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