Gold bounced back from a six-week low by edging up Rs 25 to Rs 29,225 per 10 grams Thursday, snapping its two-day losing streak, driven by a rising trend overseas amid scattered buying by jewellers at the domestic spot market.
Continuing its losing falling streak for the second straight day, gold prices slumped by another Rs 370 to trade at a six-week low of Rs 29,200 per ten grams at the bullion market Wednesday in tandem with a weakening global trend amid muted demand from jewellers at spot market.
Weakness in Gold continues, trading at 29050 down by 250. Watch complete news story of Mandi Live and stay updated with the latest trends and statistics in the stock market, commodity market and share market!
Gold edged higher on Friday after two days of losses but remained on track for its biggest weekly slide in nearly two months on growing expectations of an increase in U.S. interest rates as soon as next month.
Gold fell more than one percent on Wednesday as the dollar hit a new three-week high following minutes of the U.S. Federal Reserve`s last policy meeting that bolstered expectations that the central bank could soon raise interest rates.
Gold prices cracked below the Rs 30,000-level, tumbling by Rs 230 to Rs 29,820 per 10 grams at the bullion market Tuesday owing to slackened demand from jewellers and retailers at prevailing levels amid a weak trend overseas.
Rise in prices of Gold to continue, suggested for buying and investment. Watch complete news story of Mandi Live and stay updated with the latest trends and statistics in the stock market, commodity market and share market!