Mumbai: The price of yellow metal slipped down sharply in the commodity market. As per the market experts, the change in international market currency prices, inflation, gold reserves at central banks and their interest rates are the factors that influence the price of gold. The gold rates are now declining as the US Federal Reserves has hinted over the rise in interest rates.
On the Multi Commodity Exchange (MCX), the December gold futures is trading at Rs 40,068 per 10 grams, down by 0.45%. Price of spot gold has dipped by Rs 370 per 10 grams.
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In the international market, spot gold is priced at $ 1861.43 per ounce. The US gold futures is at $ 1864 per ounce.
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