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Gold falls on weak overseas trend

Gold falls on weak overseas trend
pti
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First Published: Mon, Jun 15 2009. 03 42 PM IST
Updated: Mon, Jun 15 2009. 03 42 PM IST
New Delhi: Gold prices fell for the fourth straight session on Monday on heavy selling by stockists, influenced by a weak trend in the overseas markets.
The precious metal fell by Rs20 to Rs14,680 per 10 gram, in continuation to the loss of Rs175 in last three sessions.
Selling pressure also extended to silver’s weekly-based delivery as speculators refrained from enlarging positions while the metal for spot delivery rose on some demand from industrial units.
Silver ready gained Rs100 at Rs22,900 per kg while weekly-based silver plunged by Rs340 at Rs22,960 per kg. Silver coins also lost Rs100 at Rs29,400 for buying and Rs29,500 for selling of 100 pieces.
Standard gold and ornaments fell by Rs20 each at Rs14,680 and Rs14,530 per 10 gram, respectively. Sovereign held unchanged at R12,400 per piece of eight gram.
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First Published: Mon, Jun 15 2009. 03 42 PM IST
More Topics: Markets | India | Commodities | Gold | Bullio |