Gold, silver fall on heavy selling in India

January 15, 2009

Commodity Online
NEW DELHI : Gold and silver prices fell Thursday mainly on heavy selling by stockists based on global trends.

Gold prices tumbled by Rs 110 to Rs 13,090 per 10 gram here while silver fell by Rs 300 to Rs 17,750 per kg.

Gold ornaments also fell by Rs 110 to Rs 12,940 per 10 gram. Sovereign, on the other hand, continued to be asked at previous level of Rs 10,725 per piece of eight gram.

Silver coins fell by Rs 100 to Rs 26,800 for buying and Rs 26,900 for selling of 100 pieces. Silver ready fell by Rs 300 at Rs 17,750 per kg and weekly-based delivery by Rs 310 at Rs 17,550 per kg.

Analysts said selling by stockists influenced by a weakening trend in international market amid restricted buying due to off marriage and festival season mainly pulled down gold prices.

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