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. Also Read | Punjab Cabinet Expansion: Balbir Singh Sidhu counters Cong high command, asks reason for his ouster as Cabinet minister On the other hand, the silver too continued to dip as it slumped by 45 percent to Rs 60,361 per kg. Also Read | Petrol prices in India hiked after 22 days, diesel becomes costlier for fourth consecutive day Gold and Silver prices in India: [caption id="attachment_537468" align="aligncenter" width="614"] Source: GoodReturns[/caption] 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. [caption id="attachment_537472" align="aligncenter" width="619"] Source: GoodReturns[/caption] 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