India, Nov. 7 -- Gold prices saw a drop in India before Diwali in order to provide some reprieve to buyers who were intending to buy jewelry and other precious metal items in celebration of the festivities. This price drop occurred after gold showed good returns earlier in the week with international gold prices being hit by strong US job numbers.

On Friday, November 6, international spot gold fell by 0.3% to $4,074.36 per ounce after dropping by more than 1% during the day. The US gold futures for December delivery also settled at 0.9% below. But even with the latest drop, international gold prices were still up by about 5.2% for the week and achieved their strongest weekly gains since August.

Domestically, Delhi's indicative 24-carat ...