Gold price has gone down by Rs 250 per 10 gram to hit below Rs 45,100-mark. With this, the gold rate in the country fell to the lowest level since the month of June, as per data on good returns website. The low rate will certainly bring much joy for the common buyers as the festive season approaches. The development comes as Gold prices were languishing near a seven-week low in the international market.
In India, the lowest gold rate in June was Rs 45,740 per 10 gram of 22-carat, Rs 46,190 in July, and Rs 45,280 per 10 gram of 22-carat in August, as per details on the good returns website.
On the Multi Commodity Exchange (MCX) India, gold futures were trading lower by Rs 87, or 0.19 per cent, to Rs 45,982 per 10 grams in a business turnover of 2,755 lots. Analysts attributed the fall in gold prices to the trimming of positions by participants, as per a PTI report.
In the international market, spot gold was down at USD 1,735.17 per ounce. This was the lowest since August 11. The US Gold futures fell further at USD 1,735.90, as per a Reuters report.