Both the precious metals, gold and silver, fell on Monday on reduced offtake by stockists and jewellers at existing high levels, amid a weak trend in global markets. While gold fell by Rs. 190 to Rs. 29,140 per 10 grams, silver lost Rs. 650 to Rs. 55,500 per kg.
The trading sentiment turned bearish after gold declined to a two-week low in global markets as concern that Europe’s debt crisis will persist even after leaders agreed to a fiscal accord strengthened the dollar, dimming the appeal of the metal as an alternative investment.
From: http://ping.fm/ZetxC
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