Spot gold was last seen 0.1 per centhigher at $1,456.22 per ounce.Gold prices were last seen at Rs 37,920 per 10 grams in the national capital on Thursday, according to industry body India Bullion and Jewellers' Association (IBJA).
These rates are exclusive of a 3 per cent Goods and services Tax (GST) and making charges, IBJA mentioned on its website.
IBJA is a Mumbai-based association consisting of gold dealers, traders and jewellers.
According to Tapan Patel,Senior Analyst (Commodities), HDFC Securities, gold prices were down in the absence of spot demand.Globally, gold prices inched up on Thursday as investors bought the safe-haven metal on doubts about whether the United States and China will seal a trade deal after President Donald Trump signed a legislation supporting Hong Kong protesters, analysts said.Spot gold was last seen 0.1 per centhigher at $1,456.22 per ounce.
US gold futures was0.1 upat $1,455.20.Gold, considered a safe store of value during economic or political uncertainties, has gained more than 13 per centthis year, mainly due to the tariff dispute and its impact on global growth.Gold had eased 0.5 per centin the last session on a raft of upbeat economic data from the United States.
Economic growth picked up slightly in the third quarter, weekly jobless claims fell, while new orders for key US-made capital goods increased by the most in nine months in October.In India, gold demand is expected to fall to its lowest level in three years in 2019, the World Gold Council (WGC) said earlier this month, as domestic prices climb to a record against backdrop of falling earnings in rural areas.