Gold prices in Delhi came down to trade just above the Rs 32,200 per 10 grams Gold prices in Delhi declined for a second straight day.
Traders said a fall in demand in the domestic bullion markets hurt the sentiment.
Gold prices in Delhi came down to trade above the Rs 32,200 per 10 grams level on Friday.
Strength in the dollar, which continued its upmove against a basket of currencies to hit a fresh 3-1/2-month high, kept global gold prices under pressure.
A stronger dollar makes bullion more expensive for holders of other currencies, while higher bond yields dampen demand for non-interest yielding bullion.Here are five things to know about gold prices today:1.
Domestic gold prices: In Delhi, gold of 99.9 and 99.5 per cent purity declined by Rs 190 per 10 grams each to Rs 32,210 per 10 grams and Rs 32,060 per 10 grams, respectively.
On Thursday, gold price in Delhi had declined by a marginal Rs 50 to Rs 32,400 per 10 grams.2.
Domestic silver prices: Silver too faced selling pressure and lost Rs 100 per kilogram to Rs 40,450 per kilogram, the agency added.
Silver ready moved down by Rs 100 to Rs 40,450 per kg and weekly-based delivery by Rs 220 to Rs 39,205 per kg.
Silver coins however traded at previous level of Rs 75,000 for buying and Rs 76,000 for selling of 100 pieces.( : Should you invest in gold)3.
Global gold price: In the international market, gold price edged higher.
The leaders of South and North Korea embraced after pledging on Friday to work for the "complete denuclearisation of the Korean peninsula".
Spot gold was up 0.1 per cent at $1,318 per ounce at 3:45 pm, news agency Reuters reported.
Gold price was not far from a low of $1,315.06 an ounce hit in the previous session - its weakest since March 21.4.
Banks and brokerages expect a largely flat gold market over the rest of 2018, a Reuters poll has shown.
A better performance is forecast for silver, however, with the metal tipped to pull back more lost ground against gold.5.
Outlook: The average gold price prediction returned by the poll of 34 analysts and traders conducted this month stood at $1,334 an ounce, versus the metal's current 2018 average of $1,332, according to the Reuters poll.
Credit ratings agency CARE Ratings expects global gold prices to remain range-bound around $1,350 per ounce in the short term.(With agency inputs)