New Delhi, Aug. 7 -- The price of the yellow metal in India's retail market rose on Friday, 7 August, amid hopes of peace in the Middle East.

In the international markets, gold prices registered their biggest weekly gain since January, helped by weaker oil prices, while investors awaited key US nonfarm payrolls data for clues on the interest rate outlook.

Spot gold was up 0.4% at $4,254.11 per ounce, after hitting a seven-week high in the previous session. Prices were up over 5% for the week. US gold futures gained 0.3% to $4,312.00, according to a CNBC US report.

Due to these developments, both 24-karat and 22-karat gold rates are showing a marginal increase across major cities in India. Silver prices also rose in the domestic bullion...