INSUBCONTINENT EXCLUSIVE:
Sovereign however remained flat at Rs 24,500 per piece of eight gram.Gold prices slipped by Rs 60 to Rs 31,450 per 10 gram at the bullion
market on Friday on muted demand from local jewellers and a weak global trend, reported news agency Press Trust of India
Traders said besides fall in demand from local jewellers and retailers at prevailing levels, a weak trend overseas mainly weighed on the
Globally, gold steadied on Friday as the dollar slipped versus a currency basket despite fears over looming China-US trade tariffs, and as
investors turned their attention to US payrolls data due later, reported Reuters.Spot gold edged up 0.1 per cent to $1,201.04, after it hit
a near one-week high on Thursday at $1,206.98, and was headed for a third straight session of gains.2
In Delhi, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 60 each to Rs 31,450 and Rs 31,300 per 10 gram, respectively
The precious metal had gained Rs 310 in the last two days
Sovereign however remained flat at Rs 24,500 per piece of eight gram.3
MCX gold is trading lower due to weakness in the SPDR gold ETF
Further, appreciation in the rupee pressurized the precious metal
Nonetheless for traders the key focus would be on US non-farm payrolls which will come in the evening session along with unemployment rate
According to Bloomberg forecast, the non-farm payrolls is going to be dollar supportive hence the yellow metal is likely to be vulnerable,
said Jigar Trivedi, Fundamental Research Analyst, Commodities, Anand Rathi.US President Donald trump is also likely to make announcement on
tariffs on Chinese goods hence the session would be choppy
Silver coins however remained unaltered at Rs 72,000 for buying and Rs 73,000 for selling of 100 pieces.(With agency inputs)
