Mumbai: Price of yellow metal gained on the commodity market. The decline in the US dollar and the pullback in the US treasury yields supported the precious metal. On the Multi Commodity Exchange (MCX), gold futures were trading sharply higher by 0.66% or Rs 339 at Rs 51,728 per 10 gram. Silver futures gained by 0.34% or Rs 194 at Rs 57,748 per kg.
Price of sovereign gold gained marginally in the Kerala market. Sovereign gold is trading at Rs 38,000, higher by Rs 280 per 8 gram. One gram gold is priced at Rs 4715, up by Rs 35. Yesterday, gold price slipped down by Rs 160 per 8 gram.
In the international market, price of spot gold remained firm at $1,767.39 per ounce. US gold futures rose 0.4% to $1,783.90. Among other precious metals, silver fell 0.4% to $19.97 per ounce, platinum was down by 0.2% at $896 and palladium eased by 0.3% to $2,011.42.