Wednesday, February 6, 2008

Gold Falls On Weak Asian Trenda

New Delhi: Gold dimmed in the bullion market here today as the prices fell by Rs 75 at Rs 11,680 per 10 gram following softening of rates in Asian markets.

Marketmen said trading sentiment turned weak as retail customers and jewellery fabricators postponed their buying decision on expectations of prices coming down further.

In Singapore, the metal lost 98 cents to $902.60 an ounce.

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Standard gold and ornaments dipped by Rs 75 each at Rs 11,680 and Rs 11,530 per 10 grams respectively. However, sovereign managed to attract some buying from retailers and gained Rs 50 at Rs 9,450 per piece of eight gram, the highest level never seen before.

Silver followed gold as silver ready declined by Rs 50 at Rs 20,750 per kilo and silver weekly-based delivery by Rs 250 to Rs 21,300 per kilo. Silver coins were traded unchanged at Rs 25,600 for buying and Rs 25,700 for selling of 100 coins.

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