Gold records 2nd weekly loss amid hopes of US trade deals with India, China
MUMBAI: The price of 24-carat gold (10 grams) dipped by Rs 1,649 on a weekly basis till Saturday, due to fading expectations of Federal Reserve rate cuts and hopes of US trade deals with India and China.
The price of 10 grams of 24-carat gold dipped Rs 4 on a daily basis on Saturday to Rs 1,20,770, according to data published by the India Bullion and Jewellers Association (IBJA).
The price move at the weekend was also due to weakness in international bullion prices amid a strong dollar.
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