Traders said easing demand from local jewellers as well as retailers at the domestic spot market led to the downtrend in gold prices, but a firm trend overseas capped the fall.
Globally, Gold prices hit a two-week high on Thursday, supported by a weaker dollar and trade worries between Washington and Beijing, even as the US Federal Reserve forecast a slightly faster pace of interest rate hikes this year. Spot gold rose 0.3 percent to $1,302.50 per ounce at 0744 GMT. It earlier hit a high of $1,303.38 an ounce, its best since May 31. US gold futures for August delivery rose 0.4 percent to $1,306 per ounce.
Silver too rose 0.44 per cent to $17.08 an ounce in Singapore. In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 90 each to Rs 31,860 and Rs 31,710 per ten gram, respectively. It had gained Rs 150 in yesterday's trade. Sovereign gold however remained flat at Rs 24,800 per piece of eight gram.
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