Gold price slumps for second day

Gold rates were trading flat to lower in Indian market on Friday.

Gold rates in India were set for fourth straight weekly gain on Friday, imitating the international trends.

On Multi-Commodity Exchange (MCX), gold has gained nearly 4 per cent in the last four weeks. On MCX, gold August futures were trading rupees 33 down at rupees 48,367 per 10 grams.

While, silver saw a significant rise on Friday. Silver futures increased 0.21 per cent to rupees 69,824 per kilogram.

Gold prices in finance capital is rupees 47,490 per 10 gram of 22-carat gold and rupees 48,490 per 10 gram of 24-carat gold.

In national capital, 22-carat gold priced at rupees 47,310 per 10 gram and rupees 51,610 per 10 gram of 24-carat.

Gold prices of 22-carat is rupees 47,710 per 10 gram in Kolkata and rupees 50,410 per 10 gram of 24-carat.

Gold prices for 22-carat is rupees 45,760 per 10 gram in Chennai and rupees 49,910 per 10 gram of 24-carat.

Gold rates varies in different states and cities due to local taxes and charges.

In international market, gold prices edged higher and headed for the fourth straight weekly gain on Friday. As per Reuters, spot gold was flat at USD 1,829 per ounce and gained 1.2 per cent so far this week.


India Scanner News Network

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