Gold below Rs 31,000
PRESS TRUST OF INDIA
New Delhi, Feb 12: Gold prices on Tuesday lost Rs 210 to slip below the psychological Rs 31,000-mark at Rs 30,790 per 10 grams here on heavy selling by stockists, triggered by a weak overseas markets.
Silver followed suit and dropped by Rs 1,015 to Rs 57,850 per kg on poor off take by industrial units and coin makers.
The trading sentiment turned bearish after gold fell in global markets to a lowest in more than a month as strong dollar reduced demand for the metal as an alternate investment.
In Singapore, gold fell 0.3 per cent to $1,642.90 an ounce, the cheapest since January 4 and silver by 0.7 per cent to $30.73 an ounce, its lowest level since Jan 28.
In addition, investors seen shifting their funds from weakening bullion to rising equity and retail customer refrained from purchasing on expectations of a more corrections also had negative impact on the sentiment.
Lastupdate on : Tue, 12 Feb 2013 21:30:00 Makkah time
Lastupdate on : Tue, 12 Feb 2013 18:30:00 GMT
Lastupdate on : Wed, 13 Feb 2013 00:00:00 IST
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