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Commodity Market: Gold price decline for second day in a row

Mumbai:  Sovereign gold price edged lower in Kerala for second day in a row. Yellow metal price depreciated sharply today.  Gold is trading at Rs 52,920, down by Rs 1120 per 8 gram. One gram gold is trading at Rs 6615, down by Rs 140. Yesterday,  yellow metal price declined by Rs 400 per 8 gram and Rs 50 per 1 gram.

On the Multi Commodity Exchange (MCX), gold futures fell by Rs 656 or 0.92% to trade at Rs 70,541 per 10 gram. Silver  futures  dipped by Rs 710 or 0.9% to Rs 79,869 per kg.

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In global markets, price of spot gold rose 0.3% to $2,333.29 per ounce. U.S. gold futures were unchanged at $2,346.70 per ounce. Price of spot silver rose 0.4% to $27.31 per ounce, platinum was up 0.2% at $919.05, while palladium fell 0.1% to $1,007.58.



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