Gold Prices Dip 1.16% as Dollar Strengthens and Yields Rise

Gold prices declined by 1.16% during the week as higher US Treasury yields and a firmer dollar weighed on demand for the non-yielding precious metal amid continuing geopolitical uncertainty.

The price of gold futures stood at Rs 141,599, while silver futures were at Rs 217,488 per kg. The price of 10 grams of 24-carat gold was Rs 42,860 on Friday, down from Rs 44,532 at Monday's market opening.

Bullion remained volatile during the week, briefly gaining around 2% after the US Federal Reserve kept interest rates unchanged. Gold extended its gains into Thursday as the dollar weakened, before retreating as yields and the greenback strengthened.