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Commodity Market: Gold price slips down sharply

Mumbai: Price of sovereign gold sipped down sharply in the Kerala market. Gold price surged in the last four days. Sovereign gold is trading at Rs 41,920, down by Rs 400 per 8 gram.

On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 57,170 per 10 gram, down Rs 232 or 0.41%. Silver futures were trading lower by Rs 549 at Rs 67,324 per kg.

Also Read: Forex Market: Indian rupee falls against US dollarĀ 

In the international markets, price of yellow metalĀ  remained flat, set for their second weekly decline. Price of spot gold was flat at $1,861.11 per ounce. For the week so far, the precious metal was down 0.2%. U.S. gold futures fell 0.3% to $1,873.00. Among other precious metals, silver fell 0.3% to $21.91 per ounce, platinum eased 0.1% to $953.28 and palladium lost 0.5% to $1,637.79.


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