The price of gold breaks the rise of three days: five things to know

Gold prices fell slightly on Saturday, marking the first decline after three consecutive days. Gold prices in Delhi have dropped from Rs 40 to Rs 31,650 per 10 grams in the gold market. Gold prices, traders said, have been driven by a weak trend overseas amid easing demand from local jewelers. Gold prices had gained 330 rupees per 10 grams in the nation's capital from Wednesday to Friday. In the international market, the price of gold declined slightly on Friday to $ 1,254.45 an ounce due to the weak dollar. (Read: Want to invest in gold? Here are your options)

Here are five things to know :

1. Price of gold and silver in Delhi : 99.9 percent gold and 99.5 percent purity dropped from Rs 40 each to Rs 31,650 and Rs 31,500 per 10 grams, respectively. Silver prices were stable at Rs 40,500 per kg. The loan money was unchanged at Rs 40,500 per kg, while the weekly delivery decreased from Rs 90 to Rs 39,790 per kg.

2. Weakness of the dollar : The dollar fell on Friday after data showed that the US jobless rate was rising and wages were rising less than expected in June even as the economy created more money. 39 jobs than expected. Wage growth is a closely guarded signal of potential inflation that could lead to higher interest rates on the part of the Federal Reserve, the central bank of the United States.

3. What Dollar Weakness Means : Dollar weakness tends to raise gold, making metal at greenback prices cheaper for non-US investors.

4. Rupee against dollar : Back home, the rupee climbed 8paise to end at 68.87 against the US dollar on Friday. This marked a slight recovery after a closing record for the rupee. The rupee is down nearly 8 percent against the US dollar so far this year.

5. Lower Imports : Meanwhile, gold imports fell for a sixth month in June, preliminary data from GFMS badysts at Thomson Reuters and bank brokers showed. The weakness of the rupee, increasing prices of domestic gold, has resulted in a decline in demand for the yellow metal. The 25 percent year-on-year decline in global consumer spending could weigh on world prices, which dropped to their lowest level in seven months last week.