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Commodity Market: Gold price slips down sharply

Mumbai: Price of gold sipped down marginally in the commodity market. Sovereign gold is trading in Kerala at Rs 43,360, down by Rs 640 per 8 gram. One gram gold is priced at 5420, lower by Rs 80. Last week, the yellow metal touched an all-time high of Rs 44,240 per 8 gram.

On the Multi Commodity Exchange (MCX), gold futures were trading at Rs 58,540 per 10 gram, down Rs 39 or 0.07%. Silver futures were trading higher by Rs 168 at Rs 68,562 per kg.

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Globally, the yellow metal prices traded in a narrow range on Wednesday as some investors stayed on the sidelines ahead of the U.S. Federal Reserve’s interest rate decision and policy outlook. Spot gold was flat at $1,939.59 per ounce. U.S. gold futures edged 0.1% higher at $1,943.50.


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