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Commodity Market: Gold price slips down

Mumbai: Price of gold slipped down in the early trade on Monday. The yellow metal was trading at its five-week lows as Dollar Index (DXY) and US bond yields shot up.

On the Multi Commodity Exchange (MCX), gold  futures were trading  at Rs 58,903 per 10 gram, down Rs 3 or 0.01%. Silver futures were trading at Rs 69,840, up Rs 136 or 0.19%. On Friday, Gold futures ended with minor gains of Rs 53 per 10 gram while silver futures fell Rs 14 per kg. In the Kerala market, price of sovereign gold remained unchanged at Rs 43,720 per 8 gram.

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On the Comex, Gold futures were trading at $1,946.10 per troy ounce, down $2.80 or 0.14% while Silver futures were trading at $22.760, down $0.061 or 0.270%.  Price of spot gold was down 0.2% at $1,910.29 per ounce. U.S. gold futures also slipped 0.2% to $1,942.60.

The holdings  of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.4% to 899.63 tonnes.  Price of spot silver fell 0.4% to $22.57 an ounce, platinum dropped 0.5% to $907.76, while palladium rose 0.1% to $1,294.73.

 

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