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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