Domestic gold prices were affected thanks to weak demand from jewellers, according to tradersNew Delhi: Gold prices fell declined back to Rs 32,000 per 10 grams in Delhi on Thursday.
Gold prices came down by Rs 90 to Rs 32,000 per 10 grams at the bullion market, news agency Press Trust of India reported.
Domestic gold prices, which had risen by Rs 230 in the national capital the previous day, were affected thanks to weak demand from jewellers, say traders.
Some weakness in the dollar against a basket of currencies - which makes the yellow metal more attractive for emerging markets - contained the downside at Rs 90, they added.1.
In Delhi, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 90 each to Rs 32,000 and Rs 31,850 per 10 grams respectively, according to Press Trust of India.
Gold prices had broken their three-day losing streak to rise by Rs 230 per 10 grams on Wednesday.(Read:Buying gold Here's what experts say|How gold investments are taxed)2.
Silver ready recovered to Rs 350 per kg to reclaim the Rs 41,000 mark.
Weekly-based delivery bounced by Rs 340 to Rs 40,125 per kg.3.
In the international market, easing of the dollar from six-and-a-half-month highs pushed gold prices higher.
Renewed concerns about US-China trade also supported gold prices.
Gold is often seen as a safe investment during times of political and financial uncertainty.(Gold jewellery vs gold ETF vs gold bond - where to invest)4.
Spot gold rose 0.4 per cent to $1,305.87 per ounce by 12:22 pm, but was down 0.7 per cent for the month, in what could be its second straight monthly decline, news agency Reuters reported.
US gold futures for June delivery were 0.3 percent higher at $1,305.80 per ounce.5.
The rupee was trading nearly flat in afternoon, after having traded in the range of 67.58-67.32 against the US dollar earlier in the session.
On Wednesday, the rupee had settled at 67.43 against the greenback.