Mumbai: Price of gold edged higher in the commodity market. The Union government’s decision to increse the import duty of gold and weakening US treasury yields supported the precious metal. But, , strengthening of the US dollar capped the gain of yellow metal.
On the Multi Commodity Exchange (MCX), gold futures were trading higher by 0.36%t or Rs 187 at Rs 52,104 per 10 gram. Silver futures were up by 0.43% or Rs 250 at Rs 58,425 per kg.
In the Kerala market, sovereign gold is priced at Rs 38,400, higher by Rs 200 per 8 gram. One gram gold is trading at Rs 4800, up by Rs 25.
In the international market, price of spot gold was down by 0.2% at $1,807.19 per ounce. On Friday, the yellow metal touched a five-month low of $1,783.50. US gold futures rose by 0.5% to $1,809.50. Among other precius metals, silver slipped down by 0.2% to $19.82 per ounce, platinum fell by 0.5% to $884.39 and palladium dropped by 0.6% to $1,948.50.