Mumbai: Price of precious metal edged lower in the commodity market. On the Multi Commodity Exchange (MCX), gold futures declined to near two-week lows. Gold futures is trading at Rs 50,510 per 10 gram. Silver futures were marginally higher at Rs 59,510 per kg.
In the international market, price of spot gold remained firm at $1,824.72 per ounce. So far this week, gold prices have dropped about 0.9%. Among other precious metals, spot silver rose by 0.4% to $21.02 per ounce.
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In the Kerala market, price of sovereign gold is at Rs 37,960, lower by Rs 160 per 8 gram. Yesterday, price of yellow metal surged by Rs 160 per 8 gram. One gram gold is priced at Rs 4745, lower by Rs 10.