by Administrator
10. September 2009 12:57
New Delhi September 10:
Snapping a six-day long rally, gold today fell by Rs 200 to Rs 16,000 per 10 gram in the bullion market here on emergence of selling at existing higher levels amid a weak trend in the global markets.
However, marketmen said that the fall is temporary and gold will bounce back soon, once the marriage and festival season starts on September 19.
All India Sarafa (bullion) Bazaar President Sheel Chand Jain said, "Gold is still moving in a firm mode and the current fall seems to be temporary as retail customers are not purchasing the metal due to Shraadhh", an inauspicious fortnight in Hindu mythology for making fresh purchases.