Snapping two days of rally, both gold and silver declined on the bullion market today on reduced offtake by stockists and jewellery makers amid a weak trend in overseas markets.
While gold fell by Rs 310 to Rs 28,300 per 10 grams, silver lost Rs 800 to Rs 64,200 per kg on reduced offtake by stockists and jewellers at higher levels. Trading sentiment turned bearish after gold fell in global markets as concerns about the worsening European debt crisis drove the euro lower against the dollar, dampening demand for commodities and the US currency. Gold in global markets, which normally sets the price trend on the domestic front, shed 0.5 per cent to USD 1,770.07 an ounce in Singapore.
From: http://ping.fm/N3TTW
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