Gold falls below Rs19,000 on sluggish demand
June 15, 2010
Marketmen said the emergence of profit-selling at existing higher levels amid a weakening trend in the global market mainly led to the fall in gold prices.
The fall in demand at higher levels also dampened the trading sentiment to some extent, they said.
Gold in international markets, which normally sets the price trend on the domestic front, fell by USD 6.10 to USD 1,221.40 an ounce in New York last evening.
Standard gold of 99.9 per cent purity and gold of 99.5 per cent purity fell by Rs 85 each to Rs 18,940 and Rs 18,840 per ten grams respectively, while sovereigns held steady at Rs 14,650 per piece of eight grams.