Mumbai: Gold prices fell sharply in the commodity market. The rising bond yields and a firm US dollar has weighed upon the yellow metal.
On the Multi Commodity Exchange (MCX), gold futures were trading lower by 0.51% or Rs 256 at Rs 50,025 per 10 gram. Silver futures dropped 0.79% or Rs 419 to Rs 52,727 per kg.
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In the Kerala market, sovereign gold is priced at Rs 37,120, lower by Rs 400 per 8 gram. In the last two days, the price of gold surged by Rs 200 per 8 gram.
In the international market, spot gold was down 0.3% at $1,696.30 per ounce. US gold futures were down 0.3% at $1,708.30. Among other precious metals, silver fell 0.7% to $17.92 per ounce, platinum was 0.7% lower at $847.46 and palladium plunged 1% to $1,986.79.
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