New Delhi, May 29 -- Gold prices slipped to their lowest level in nearly a week on Thursday, as a stronger US dollar weighed on the precious metal. The downturn was also influenced by investor optimism in equity markets following a major U.S. court decision.

As of 10:13 a.m. IST, spot gold was down nearly 0.5%, or USD 15.13, to USD 3,273.85, marking its lowest level since May 20.

"The US federal court's decision triggered a downside in gold prices, and if there is no response or counteraction from former President Trump, we could see further declines," said Mrinesh Jain Director, Bombay Bullion Metal Hub LLP, adding that "prices may potentially retest the support level around USD 3,125."

A US federal court on Wednesday (local time) rul...