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Commodity Market: Gold rate drops down

Thiruvananthapuram: Price of sovereign gold fell by Rs 480 to Rs 34,720 per 8 gram in Kerala. One gram gold was down by Rs 60 to Rs 4340. Gold was priced above Rs 35,000 for last two weeks.

On the Multi Commodity Exchange (MCX), October gold futures is priced at Rs 46,060 per 10 gram, down by 0.03%. Silver futures surged by 0.25% to Rs 61,231 per kilogram.

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In the international market, the price of spot gold gained by 0.3% to US dollar 1758.10 per ounce. US gold futures also surged by 0.2% to US dollar 1759.50 per ounce.

As per market experts, the strengthening of US dollar and equity market has weighed on the price of gold.



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