New Delhi, Aug. 1 -- Gold prices dipped Rs 400 to Rs 97,620 per 10 grams in the national capital on Friday due to continuous selling by stockists, according to the All India Sarafa Association.

The yellow metal of 99.9 per cent purity had closed at Rs 98,020 per 10 grams in the previous market session.

In the national capital, gold of 99.5 per cent purity dipped by Rs 300 to Rs 97,500 per 10 grams (inclusive of all taxes) on Friday against the preceding session's closing level of Rs 97,800 per 10 grams.

"Gold traded weak, tracking softness in the international markets, which hovered near USD 3,290 per ounce.

"The decline comes amid pressure from the US Federal Reserve's continued hawkish stance and no indication of near-term interest ...