Globally, spot gold was down to $1,808.46 per ounce.
Globally, spot gold was down to $1,808.46 per ounce.
In Dubai, 22K was trading at Dh206.25, 21K at Dh196.75 and 18K at Dh168.75 per gram.
Forex traders said foreign fund outflows and firm crude oil prices could weigh on investor sentiment and cap the appreciation of the local unit.
The precious metal entices investors to use it as a hedge against economic uncertainty and rising inflation.
Traders said drop in oil prices and fresh foreign fund inflows restricted the rupee’s fall on Thursday.
Spot gold was trading at $1,798.41 an ounce, down 0.28 per cent, at 10am UAE time.
High oil prices, firm US dollar weigh on Indian currency
“A fall in treasury yields is certainly providing some support to gold,” said an analyst.
Precious metal hovers near 2-week high on softer dollar
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.08 per cent down at 92.13.