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2008-07-04 18:49:20 |
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Gold falls to Rs 13,085 in India
Commodity Online
MUMBAI: Unable to follow Indian stock markets in upward swinging, gold prices fell Friday in the bullion market mainly on a weakening global trend.
The precious yellow metal fell by Rs 140 to Rs 13,085 per 10 grams on selling pressure. It gathered momentum after gold prices in London declined as dollar strengthened against the euro and reduced the demand for gold as better investment.
Standard gold and ornaments, which had surged by Rs 200 each in previous day's trading, fell by Rs 140 each to Rs 13,085 and Rs 12,935 per 10 grams respectively. Sovereign followed suit and shed Rs 50 to Rs 10,100 per piece of eight gram.
Some of the funds were seen shifting from bullion to rising equity market and further fuelled downtrend, they added.
Silver ready ruled flat at Rs 25,000 per kg on sporadic demand, while a weekly-based delivery strengthened by Rs 65 to Rs 25,280 per kg on scattered buying by speculators.
Silver coins were enquired around previous levels of Rs 27,400 for buying and Rs 27,500 for selling of 100 coins. |
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