New Delhi, Nov 15 || The price of 24-carat gold (10 grams) surged by Rs 4,694 over the week, supported by safe haven buying and decline in dollar, but fell from weekly high on Friday after the end of US government shutdown.
The price of 10 grams of 24-carat gold closed the week at Rs 1,24,794 down from Rs 1,20,100 last week, according to data published by the India Bullion and Jewellers Association (IBJA).
The domestic gold prices witnessed one of its sharpest intraday falls, by nearly Rs 5,000 per 10 gram on Friday to hit the day's low of Rs 1,21,895, but gained later in the day.
The yellow metal prices mirrored the softer trend in international markets where they were down by $127 per troy ounce, as traders reacted to fading expectations of a near-term US Federal Reserve rate cut.