Being in a loss for the second straight session, due to weak global trend, gold prices on July 30 fell by another Rs 120 to Rs 14,870 per ten gram followed by silver which recorded a steep fall of Rs 300 to Rs 22,100 per kg. However, traders said that after the metal''s fall to 924.60 dollar an ounce last evening, investor sentiments in gold remained weak as the dollar firmed against the euro fading demand for the metal as an alternative investment.
Additionally, they said fall in demand at higher levels and shifting of funds from bullion to rising equity markets also weighed on the gold prices in domestic markets.
However, standard gold and ornaments fell by Rs 120 each to Rs 14,870 and Rs 14,720 per ten gram respectively, while sovereign declined by Rs 25 to 12,450 per piece of eight gram.
Additionally, they said fall in demand at higher levels and shifting of funds from bullion to rising equity markets also weighed on the gold prices in domestic markets.
However, standard gold and ornaments fell by Rs 120 each to Rs 14,870 and Rs 14,720 per ten gram respectively, while sovereign declined by Rs 25 to 12,450 per piece of eight gram.
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