Gold on Wednesday opened Rs 10 down from previous day's closing rate with 10 gram of 24-carat of the precious metal trading at Rs 51,920
The Federal Reserve is on track for half-point interest rate increases in June and July, and last week's solid jobs report boosted expectations of continued tightening by the US central bank.
10 gram of 24-carat of gold is trading at Rs 52,210, while 22-carat gold is selling at Rs 47,860
Spot gold was up 0.1% at $1,851.98 per ounce, as of 0752 GMT, while US gold futures rose 0.2% to $1,854.60.
Gold prices remained vulnerable to the expected rate hike by the Central Bank as the monetary policy committee review is due this week
"(The job data) is really raising the recession concerns that have been brewing in the market and supporting gold," said Ryan McKay, commodity strategist at TD Securities
Gold prices on the rise as treasury bond yields have weakened US dollar's strength.
The rate of gold decreased by Rs 280 per 10 gram on Thursday with 24-carat of the metal trading at at Rs 51,820
(Reuters) - Gold prices inched up from a two-week low on Wednesday, supported by worries over rising inflation, although a stronger dollar and rising U.S. yields kept gains in check.
A stronger dollar makes bullion more expensive for buyers holding other currencies, while gains in benchmark US 10-year Treasury yields reduce the appeal of zero-yield gold.
The rate of gold decreased by Rs 100 per 10 gram on Wednesday with 24-carat of the metal trading at at Rs 52,100
The U.S. dollar strengthened following hawkish comments by a senior Federal Reserve official causing gold to retreat, Ricardo Evangelista, senior analyst at ActivTrades said in a note.
The rate of gold increased by Rs 110 per 10 gram on Tuesday with 24-carat of the metal trading at at Rs 52,200
Spot gold was up 0.2% at $1,856.86 per ounce, as of 0152 GMT. U.S. gold futures edged 0.1% higher to $1,859.40
The rates of gold and silver remained unchanged today
Benchmark 10-year note yields were down on the day, after briefly rising on strong spending data, while the dollar was headed for a second consecutive week of declines.
The price of 10 gram of 24 carat gold today rose by Rs 110 to Rs 52,090
The price of 10 gram of 24 carat gold on Friday went down by Rs 270 to trade at Rs 51,980
(Reuters) - Gold prices fell for a second straight session on Thursday, pressured after the minutes of U.S. Federal Reserve's last policy meeting showed officials in support of further interest rate increases in June and July.
The price of gold vary for different regions based on certain parameters such as the excise duty, making charges and the state taxes