Gold falls by Rs 75 on weak market sentiment

Jul 24, 2010 |

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New Delhi, July 24: Gold prices slipped by Rs 75 to Rs 18,525 per ten grams in the national capital today on emergence of selling by stockists after a fall in metal prices in global markets.

Trading sentiments turned weak and gold prices fell on depreciation in Euro's value against dollar following news that seven of the 91 banks in the European Union had failed a financial stress test.

Gold in overseas trade, which normally set a price trend in the domestic markets, dropped by USD 7.80 dollar to USD 1,187.80 dollar an ounce.

Gold with 99.99 purity and 99.5 purity declined by Rs 75 each to trade at Rs 18,525 and Rs 18,425 per ten gram respectively, levelling the precious metal's yesterday bounce.

However, silver ready maintained previous price level of Rs 29,400 per kg, while silver weekly-based delivery gained Rs 10 to Rs 29,135 per kg.

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