Gold prices took a dip in the local market following a global decline, with the price of 10 grams of gold falling by Rs514. This comes after a two-day break, during which gold prices had been stable. The price of 24-karat gold decreased by Rs600 per tola to Rs422,462, and the price of silver per tola dropped by Rs18 to Rs5,094. However, despite the global trend, spot gold was up 0.7% at $4,005.21 per ounce as of 3:15pm ET (2015 GMT), and US gold futures for December delivery gained 0.5% to settle at $4,009.80 per ounce. This modest rebound in global prices may offer some relief to gold investors, but the local market's decline could be a cause for concern. And this is the part most people miss: the impact of global prices on local markets can be complex and unpredictable.
