New Delhi, July 5 -- The price of the yellow metal in India's retail market rose in the last week, due to positive global cues, easing expectations of aggressive rate hikes by the US Federal Reserve. Since gold prices do not change on weekends, local jewelers on Sunday, 5 July, will follow prices registered at Friday's closing rates. On 3 July, the price of gold settled at Rs.147,840 per 10 grams while that of 999 fine silver stood at Rs.237,680 per kg on Friday evening's closing price.

Over the weekend, on Saturday and Sunday, there is no live trading to influence the rates since global bullion markets and the Multi Commodity Exchange (MCX) in India are closed. It is important to note that the domestic price of gold is heavily dependent...