Mumbai: Price of gold edged lower on Monday, after hitting monthly highs in the last session. As per market experts, the rising inflation has weighed upon the precious metal.
On the Multi Commodity Exchange (MCX), gold futures were trading lower, by 0.18% or Rs 91 at Rs 51,610 per 10 gram. Silver futures plunged 0.80% or Rs 498 to Rs 61,431 per kg.
In the international market, price of spot gold was down by 0.5% at $1,862.29 per ounce. US gold futures also eased by 0.5%to $1,866.80. Among other precious metals, silver dipped by 1.1% to $21.63 per ounce, platinum fell by 1.5% to $958.51 and palladium dropped by 2.1%to $1,894.72.
Also Read; Forex Market: Indian rupee touches all-time low
In the Kerala market, sovereign gold is trading unchanged at 38,680 per 8 gram. One gram gold is priced at Rs Rs4835.
Post Your Comments