Tags: Gold Prices

Mumbai, Jan 13: Gold prices resumed sharply lower by Rs 315 per ten grams on the bullion market here today on fresh stockist offerings triggered by sharp fall in the global market.

Silver also fell sharply in line with gold prices. Lack of industrial demand also affected the market sentiment.

Gold futures fell by 4 per cent in New York on Monday, pacing sharp losses in crude oil and other commodities including global equities, with a stronger U S Dollar also reducing the metal's investment appeal.

Gold for February delivery finished lower by USD 34 at USD 821 an ounce on the Comex Division of the New York mercantile exchange, the lowest closing level since Dec 12. Silver for March also lost 5 per cent to USD 10.75 an ounce.

Turning to the local market, standard gold (99.5 purity) opened lower at Rs 13,010 from yesterday's closing level of Rs 13,325.

Pure gold (99.9 purity) dropped to Rs 13,070 from Rs 13,385 previously.

Silver ready (.999 fineness) slipped by Rs 440 per kilo to Rs 18,105 from Rs 18,545 yesterday.

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