Gold falls on weak global cues
Gold prices declined by Rs 90 to Rs 17,030 per ten gram here today as selling pressure emerged after global trend turned weak.
Standard gold and ornaments lost Rs 90 each to Rs 17,030 and Rs 16,880 per ten gram, respectively. Sovereign rates remained unchanged from yesterday's level of Rs 14,100 an 8-gram piece.
Silver too exhibited weakness with its ready variety falling by Rs 50 to Rs 28,650 per kg and weekly-based delivery declining by a same margin to Rs 28,310 per kg.
Silver coins were down by Rs 100 to Rs 33,700 for buying and Rs 33,800 for selling of 100 pieces.
Marketmen said global prices were weak as dollar gained strength against its rival currencies, diminishing the appeal of the precious metal.
Gold in Singapore fell 0.5 per cent to USD 1,137.75 an ounce.
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