Gold prices in India saw a decline in the week as they witnessed volatile trading on Monday and slipped by Rs 252 to Rs 52,155 per 10 grams on Friday amid a stronger rupee. Except on Thursday when gold prices rallied Rs 743 to Rs 52,508 per 10 gram, the Muntz metal traded on a coffee note throughout the week. On Monday, gold prices dipped marginally by Rs 44 to Rs 53,040 per 10 gram within the capital, in line with HDFC Securities.
“Gold prices still fall as hopes surrounding a possible COVID-19 vaccine and positive signals on the US-China trade front buoyed risk sentiment,” Navneet Damani, vice chairman of Commodities Research at Motilal Oswal Financial Services, was quoted as saying by PTI.
Bucking the three-day trend, gold prices rallied Rs 743 to Rs 52,508 per 10 gram on Thursday because it traded struggling on economic process optimism. On Friday, gold prices slipped again by Rs 252 to Rs 52,155 per 10 grams amid a stronger rupee, in line with HDFC Securities.