On a weekly basis, gold remains poised for seven consecutive weeks of gains. (Image source: Unsplash) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Gold prices fell by Rs 500 to Rs 1,20,600 per 10 grams in the national capital on Friday, ending a five-day record-extending rally, as investors booked profits and a slight recovery in the US dollar weighed on sentiment.

According to the All India Sarafa Association, the yellow metal of 99.9% purity had rallied Rs 1,100 to hit an all-time high of Rs 1,21,100 per 10 grams on Wednesday.

Gold of 99.5% purity also retreated from its peak, slipping Rs 500 to Rs 1,20,000 per 10 grams (inclusive of all taxes). It had closed at Rs 1,20,500 per 10 grams in the previous trading session.

Local bullion markets were closed on Thursday

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