Market Update

Market Watch

Wednesday, 17 October 2012

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Gold News:-

Gold prices fell for the third straight session in New Delhi on Tuesday, losing Rs 255 to Rs 31,260 per 10 grams on sustained selling by stockists in line with a weak global trend.

Traders said sustained selling by stockists in tandem with a weak global trend mainly pulled down both gold and silver prices. In addition, falling demand at prevailing higher levels further fuelled the downtrend in precious metals, they said.

In New York, gold fell $16.90 to $1,737.40 an ounce on Monday night and silver by 2.33 per cent to $32.70 an ounce.

On the domestic front, gold of 99.9 and 99.5 per cent purity remained weak for the third d
ay and plunged by Rs 255 each to Rs 31,260 and Rs 31,060 per 10 grams, respectively. It had lost Rs 285 in the previous two sessions.

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