old tumbles by Rs 340 on global cues: The marketmen said that the selling pressure also gathered momentum due to the fall in gold prices in London to a 10-week low on speculation that the world financial crisis might be easing, reducing the precious metal''s appeal.
The gold in the last five trading sessions lost Rs 1,020 per 10 gram. The Marketmen said that the weakening trend in the overseas market mainly prevailed on hopes that the global economy will revive soon following the G-20 leaders meet last week.
The Standard gold and ornaments declined by Rs 340 to Rs 14,420 and Rs 14,270 per 10 gram respectively. However, the Sovereign held steady at Rs 12,100 per piece of eight gram. On the other hand, silver ready fell by Rs 450 to Rs 20,950 per kg and weekly-based delivery by Rs 760 to Rs 20,780 per kg. However, its coins remained unchanged at Rs 27,800 for buying while Rs 27,900 for selling of 100 pieces.
The gold in the last five trading sessions lost Rs 1,020 per 10 gram. The Marketmen said that the weakening trend in the overseas market mainly prevailed on hopes that the global economy will revive soon following the G-20 leaders meet last week.
The Standard gold and ornaments declined by Rs 340 to Rs 14,420 and Rs 14,270 per 10 gram respectively. However, the Sovereign held steady at Rs 12,100 per piece of eight gram. On the other hand, silver ready fell by Rs 450 to Rs 20,950 per kg and weekly-based delivery by Rs 760 to Rs 20,780 per kg. However, its coins remained unchanged at Rs 27,800 for buying while Rs 27,900 for selling of 100 pieces.
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