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 price of 24 Karat gold in the country on Friday stood at 60,710.

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.



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