Gold price in India today: Yellow metal down Rs 40 at Rs 37,979 per 10 gram on weak overseas trend

Mumbai (Dec 2)  Gold price slipped Rs 40 to Rs 37,979 per 10 gram in Mumbai bullion market on weak overseas trend and positive Chinese factory data.

Gold price in Mumbai today for 10-gram 22-carat gold was Rs 34,789 plus 3 percent GST, while 24-carat 10 gram was Rs 37,979 plus GST. The 18-carat gold quoted at Rs 28,484 plus GST in the retail market.

Silver prices also eased by Rs 170 to 44,200 per kg from closing on November 29.

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The gold/silver ratio or the amount of silver required to buy an ounce of gold currently stands at 85.92 to 1.