Indian spot gold closes lower tracking London prices |
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Published
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Fri, 30 Nov 2007 15:05
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MUMBAI (Thomson Financial) - Indian spot gold closed over 1 pct lower, tracking the fall in London spot gold prices, market participants said.In London, gold spot traded at 794.40 usd an ounce after the US dollar firmed up against major currencies and as crude oil prices edged lower.Sumati Chand Gouti, chairman of SCG Exports Pvt Ltd, said the past week saw a small rise in offtake with prices retreating towards the 10,000 rupee mark.'The demand came from buyers looking for prices to fall below the 800 usd mark,' said Gouti, who is based in the eastern Indian city of Kolkata.Mumbai gold of 0.995 and 0.999 purity closed 155 rupees lower at 10,235 rupees per 10 grams and 10,285 rupees per 10 grams respectively. Silver of 0.999 purity closed 330 rupees lower at 19,100 per kg.tfn.newsdesk@thomson.comsim/ssa/sljCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Indian spot gold eases after six-day rally as traders book profits 