New york: The price of one troy ounce of gold decreased by $48.80 to $4,902.0 on the COMEX Commodity Exchange in New York. Silver also declined, falling by $8 to trade at $76.40 per ounce.

According to Azerbaijan State News Agency, the decline in gold price reflects ongoing trends in the global market. The precious metal's price fluctuations are influenced by various factors, including market demand and economic indicators. Silver, too, has seen a decrease, adding to the overall market movement.

The COMEX Commodity Exchange is a major platform for the trading of precious metals, where prices are set based on market conditions. The recent decline in both gold and silver prices may impact investors and market strategies globally.