Gold price in India drops below Rs 46,000-mark

Gold and Silver prices in India: In a major development, the gold price in India has dropped below Rs 46,000-mark on Tuesday. The rate of yellow metal remained under pressure since last week despite an unchanged monetary policy by the US Federal Reserve.

As per Multi-Commodity Exchange (MCX), the October gold price fell by 0.24 percent to Rs 45,960 per 10 grams at 1115 hours on September 28.

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On the other hand, the silver too continued to dip as it slumped by 45 percent to Rs 60,361 per kg.

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Gold and Silver prices in India:

Source: GoodReturns

In international market, the gold price eased on Tuesday as the Spot gold fell by 0.1 percent to $1,748.01 per ounce. The US gold futures were declined by 0.3 percent to $1,747.50.

According to the US Federal Reserve officials, the tightening of the monetary policy depends on the steady expansion in the US labor market.

Source: GoodReturns

Among the other precious metals, platinum price has shown a slight increase. Platinum witnessed a hike of 0.05 percent to $1078.0 per Troy ounce.

In India, gold price was at Rs 45985 per 10 gram on MCX, with a change of Rs 110.4. Also, the price of 24 carat gold in the Indian spot market was at Rs 46290.

-PTC News