Mumbai: Price of gold edged higher on the commodity market. Weakening of the US dollar supported the upward rally of the yellow metal.
On the Multi Commodity Exchange (MCX), gold futures is trading marginally higher by 0.28% or Rs 142 up at Rs 50,971 per 10 gram. Silver futures jumped about 0.26% or Rs 218 at Rs 61,625 per kg.
In the international market, price of spot gold rose by 0.2% to $ 1,848.96 per ounce. US gold futures gained by 0.4% to $ 1,847.90. Among other precious metals, silver gained by 0.4% to $ 21.84 per ounce, platinum gained by 0.3% to $ 958.10 and palladium climbed by 0.7% to $ 1,978.45.
In the Kerala market, price of sovereign gold reached at Rs 37,720, higher by Rs 80 per 8 gram. One gram gold is priced at Rs 4715, up by Rs 10.