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Commodity Market: Gold price edges lower

Mumbai: Gold prices weakened on Thursday to a two-month low. The strengthening of the US dollar and expectations US interest rate hike  weighed upon the yellow metal.

On the Multi Commodity Exchange (MCX), gold futures dropped  by 0.39% or Rs 199 to Rs 51,000 per 10 gram. Silver futures slipped down by  0.83%or Rs 540 to Rs 64,750 per kg.

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In the international market, price of spot gold was down by  0.2% at $ 1,882.49 per ounce. US gold futures slipped by  0.4% at $ 1,881.40. Among other precious metals, silver dipped by 0.1% to $ 23.26 per ounce, platinum eased by  0.4% to $ 914.17 and  palladium gained by 1.2% to $ 2,228.75.


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