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January 23, 2009 |
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Commodity Online
NEW DELHI: Gold spot prices witnessed some correction on Thursday with the yellow metal losing some sheen.
According to traders, in Mumbai, standard gold climbed down by Rs 125 to Rs 13,485 per 10 gm. Pure gold also moved down by Rs 120 before finishing the business at Rs 13,550 per 10 gm.
In international markets, gold bounced back on late buying. In London, spot gold rose to $856.50/858.50 an ounce after falling more than 1% in early trade.
The metal closed at $854.85 an ounce in New York on Wednesday.
In Asia, gold prices dropped slightly in Singapore market to track a weaker euro, but strong investment demand was likely to support prices, with ETF holdings hitting another record as fears about a worsening global recession lingered. In Mumbai, ready silver edged down by Rs 130 to Rs 18,820 per kg.
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