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Commodity Market: Gold price slips down sharply

Mumbai: Price of sovereign gold slipped down for fifth day in a row in the Kerala market. In the last five days, the yellow metal suffered a loss of Rs 560 per 8 gram.  Today, sovereign gold is trading at Rs 41,200, lower by Rs 160 per 8 gram.

On the Multi Commodity Exchange (MCX), gold futures settled  at Rs 55,743 per 10 grams, up Rs 156 or 0.28%. Silver futures settled  lower by Rs 83 at Rs 65,642 per kg.

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Globally, price of spot gold was up 0.2% at $1,826.45 per ounce. U.S. gold futures gained 0.4% to $1,834.80.


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