Gold futures were last seen trading lower by Rs 965 - or 2.03 per cent at Rs 46,638 Gold Cost In India: Gold futures sold the negative territory on Friday, August 6, as the yellow metal mirrored international trends.
In Global markets, gold declined to its most affordable in more than a month.
On the Multi Product Exchange (MCX), gold futures due for an October 5 delivery, were last seen trading lower by Rs 965 - or 2.03 per cent - at Rs 46,638, compared to their previous close of Rs 47,603.
Silver futures due for a September 3 delivery were last down 3.33 percent at Rs 64,765 against a previous close of Rs 66,998.
Domestic area gold closed at Rs 47,647 per 10 grams on Friday, and silver at Rs 66,727 per kg - both rates leaving out GST, according to Mumbai-based market body India Bullion and Jewellers Association (IBJA).
Kshitij Purohit, Item Manager, Currency -& Commodities, CapitalVia Global Research Study Limited: Technically, International Gold is trading with bearish bias near $1800.
Rates may test the significant assistance levels of $1798-$1790 levels in the coming sessions.
On the domestic front, MCX gold October offered a gap down opening and is trading with negative predisposition because early morning.
In the previous session, rates declined more than 300 points and we might witness the very same to continue during the evening session.Like gold, International silver is also trading with negative bias near $25.00 levels.
Prices may decline and test $24.90-$24.80 levels during the evening hours.
MCX Silver September provided a gap down opening and is trading with unfavorable bias like its global equivalent.
We might expect the costs to continue the bearish momentum at night session and test 66300 levels on the drawback.
Ravindra Rao, CMT, EPAT, VP- Head Commodity Research Study at Kotak Securities: COMEX gold trades partially lower near $1804/oz after a 0.3 percent decrease the other day.
Weighing on gold is firmness in the US dollar in the middle of some hawkish remarks by Fed officials.
ETF outflows likewise show weaker financier interest.
Supporting rate is increased geopolitical stress, increasing infection cases and mixed economic data from major economies.Gold has once again fixed after stopping working to sustain above 1836/oz level however is still holding above $1800/oz level.
Gold might remain unpredictable in addition to equities nevertheless we might see some recovery if US non-farm payrolls information disappoints.