Gold prices further declined for a second consecutive day on Friday with a reduction of ₹150-160 on 10 grams of the metal. The cost of 10 grams of 22 Karat gold stood at 55,650 as compared to ₹55,800 on Thursday, while the same amount of 24 Karat of the metal costs ₹60,710 today.
The prices of one gram, eight grams, 10 grams and 100 grams of 24-Karat gold have declined by ₹16, ₹128, ₹160, and ₹1,600 respectively from Thursday.
Silver prices were also reduced by ₹1.50 as 10 grams of the metal cost ₹729 in the country as compared to yesterday’s rate of ₹730.50.
Gold prices in India are determined by a range of factors including volatile policies, slowing economic growth and the strength of the Rupee against US dollar.