The gold rate today decides how much a lender can advance. Nothing more. Gold rate clients track this closely: when the gold rate climbs, the gold loan per gram rate climbs with it, and the same bangle supports a larger loan than it did last year without anyone pledging an extra gram.
Gold prices rose Rs 1,309 to Rs 1,54,290 per 10 grams in futures trade on Friday as speculators created fresh positions amid firm spot demand. Gold futures also gained 1.16 per cent in New York to USD 4,392.24 per ounce
Gold prices gained 4.73 per cent during the week as a weaker US dollar, falling Treasury yields and softer-than-expected labour data reduced expectations of further Federal Reserve rate hikes. Gold climbed to a seven-week high following the jobs report
