Gold prices fell sharply by Rs 1,500 to Rs 1,29,400 per 10 grams in the national capital on Friday, tracking weak global cues after US Federal Reserve officials suggested that a lack of fresh economic data could delay further interest rate cuts.
According to the All India Sarafa Association, gold of 99.5% purity dropped to Rs 1,28,800 per 10 grams (inclusive of taxes), compared with Thursday’s close of Rs 1,30,300 per 10 grams.
In the local bullion market, gold of 99.9% purity had settled at Rs 1,30,900 per 10 grams in the previous session.