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Commodity Market: Gold prices edge higher marginally

Mumbai: Price of yellow metal edged higher marginally in the commodity market. The US Federal Reserve’s decision to combat inflation has influenced investors.

On the Multi Commodity Exchange (MCX), gold August futures were trading Rs 134 or 0.3% up at Rs 50,770 per 10 gram. Silver July futures were trading at Rs 60,178 per kg, down by Rs 470 or 0.8%.

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In the Kerala market, sovereign gold is priced at Rs 38,120, higher by Rs 160 per 8 gram. One gram gold is trading at Rs 4765, higher by Rs 20. Price of the precious metal edged lower in the last two days. Gold price declined by Rs 160 per 8 gram yesterday.

In the international market, price of spot gold was down by 0.1% at $1,835.88 per ounce.  U.S. gold futures also inched 0.1% lower to $1,837.30.


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