Mumbai: Price of yellow metal slipped sharply in the commodity market. On Multi Commodity Exchange (MCX), gold futures were today down 0.5% to Rs 51,406 per 10 gram. Silver dropped 0.6% to Rs 58,032 per kg. Over the past three sessions, gold had jumped Rs 1,000 per 10 gram.
In the Kerala market, sovereign gold is trading at Rs 37,680, lower by Rs 80 per 8 grams. One gram gold is trading at Rs 4710, down by Rs 10. Gold price surged by Rs 600 per 8 gram.
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In the international market, the yellow metal remained near 3-week highs. Price of spot gold remained unchanged at $1,755.59 per ounce. As per market experts, the lower bond yields and pullback in US dollar supported the precious metal.
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