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Commodity Market: Gold price slips down for third day in a row

Mumbai: Sovereign gold prices edged lower for third day in a row in Kerala. Sovereign gold is priced at Rs 45,320, down by Rs 80 per 8 gram. One gram gold is priced at Rs 5665, down by Rs 10. On Monday and Tuesday, yellow metal price depreciated by Rs 160 per 8 gram. In last three days, yellow metal suffered a loss of Rs 400 per 8 gram.

On the Multi Commodity Exchange (MCX), gold futures  opened flat during morning deals. Gold futures  opened at Rs 61,196 per 10 gram. Silver futures opened at Rs 71,745 per kg.

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In global markets, price of spot gold was flat at $1,980.58 per ounce. U.S. gold futures edged 0.1% higher to $1,995.80. Price of spot silver was flat at $22.74 per ounce, while platinum eased 0.3% to $926.68 and palladium fell 0.2% to $977.21.

Holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.33% to 875.65 tonne.

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