Gold Rate Today: Gold prices dip on weak demand

NEW DELHI: Gold price declined in the domestic futures market on Friday on lower demand of the precious metal by local jewellers at the spot market.

However, positive global sentiment capped the losses for gold.

Gold climbed to a more than six-month high on Friday in global markets, as concerns about slowing global economic growth and a partial government shutdown in the United States stoked safe-haven demand, Reuters reported.


Rupee's rise also helped in restricting the losses for the metal as a higher rupee reduces the cost of gold's import, pushing the demand of the metal higher.



MCX Silver, however, was trading with gains on slightly increased orders from industrial units and coin makers.

The MCX Gold was trading at Rs 31,681 per 10 grams, down by Rs 32, while MCX Silver was trading Rs 83 higher at Rs 38,773 a kilo around 1:10 pm.