NEW DELHI: Gold ended a nine-week winning streak this week, with a sharp correction as the market reassessed a rally that had pushed prices into overbought territory.
The price of 24-carat gold (10 grams) ended at Rs 1, 22, 419 on Friday, down from Rs 1, 23, 827 from its previous close, according to data published by the India Bullion and Jewellers Association (IBJA).
Spot gold fell 0.3 per cent to close at $4, 113.05 an ounce in New York, resulting in a weekly loss of approximately 3.3 per cent.