Indian gold prices ease as global spot rates retreat from highs
Indian gold rates eased on Monday to INR 13,273.12 per gram as global benchmark prices pulled back from seven-week highs near $4,372 per ounce amid a strengthening US dollar.
Gold Market
Indian gold rates eased on Monday to INR 13,273.12 per gram as global benchmark prices pulled back from seven-week highs near $4,372 per ounce amid a strengthening US dollar.
Gold slipped from its highest point since mid-June as a stronger US dollar and Middle East geopolitical tensions countered the impact of weak US employment figures.
Gold prices climbed above $4,300 per troy ounce following a contraction in US jobs and a decline in the dollar, with attention turning to upcoming CPI data.
Gold rose over 2.3% on Friday to trade at $4,340 after US employment figures showed a contraction of 23,000 jobs in July, dampening expectations of Fed interest rate hikes.