Mumbai: Price of yellow metal declined sharply in the commodity market. The strengthening of the US dollar and rise in the US treasury yields weighed upon the precious metal.
On the Multi Commodity Exchange (MCX) gold futures were trading lower, by 0.21% or Rs 105 to Rs 50,900 per 10 gram. Silver futures slipped by 0.50% or Rs 301 to Rs 61,101 per kg.
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In the international market, price of spot gold eased by 0.2% to $1,844.78 per ounce and US gold futures eased by 0.3%to $1,848.10. Gold prices have fallen about 0.3% this week. Among other precious metals, silver dipped by 0.1% to $21.63 per ounce, platinum fell by 0.6% to $966.13 and palladium rose by 0.7% to $1,938.01.
In the Kerala market, price of sovereign gold is at Rs 38,200, lower by Rs 160 per 8 gram. One gram gold is trading at Rs 4775, down by Rs 20.
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