Here are 5 things to know about gold price fall today1) As concerns over North Korea and the US hurricanes faded, sentiment for riskier assets improved with global stocks rising to record highs. This kept pressure on global gold prices.
2) Global gold prices held steady on Wednesday amid firmer equities and a softer dollar, with safe-haven demand for the metal supported after U.S. President Donald Trump urged tougher measures against North Korea. Spot gold was unchanged at $1,331.47 an ounce.
3) Fading demand from local jewellers as well as retailers attributed to the fall in domestic gold prices, traders said.
4) Meanwhile, the dollar index, which measures the greenback against a basket of currencies, slipped 0.1 per cent to 91.758, but managed to remain above its 2-1/2-year low hit last week.
5) A stronger greenback makes bullion more expensive for holders of other currencies, while higher interest rates lead to higher bond yields and dampen demand for non-interest yielding gold. (With PTI Inputs)