Gold Price Fall In On Weak Demand

Gold price fell on Friday and set for its first weekly decline in a month and has lost about 1.8% monthly fall  as the dollar and equities rose.

In the global markets, gold was on track for its first weekly fall in one month after posting its heavy fall in more than 7-months in the previous session on a strong dollar.

Spot gold was down 0.1% at USD1,288.74 per ounce after falling about 1.5%.US gold futures were down 0.1% at $1,288 an ounce.

On MCX market, Gold prices took a hit in futures trade on Friday on account of a slouch in demand by jewellers at the spot market amid weak trends in international markets. 

The MCX Gold was trading at Rs31,510-per ten grams, down by Rs97, while MCX Silver was trading Rs16 up at Rs37,333  per kilo, on Friday.

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