GOLD FALLS BY Rs 135 ON WEAK GLOBAL ISSUES

NEW DELHI: Gold prices on Wednesday fell by Rs 135 to Rs 17,250 /10 gram on the bullion market here on heavy selling by stockists after weak global cues.

Silver prices declined by Rs 900 to Rs 27,850 per kg. Gold in the overseas markets, which normally the set the price trend on the domestic front here, dropped 0.4 per cent to 1,166.55 $ an ounce after the dollar rose on European debt woes and a report showing an unexpected jump in US factory orders.

Standard gold and ornaments plunged by Rs 135 each to Rs 17,250 and Rs 17,100 per ten gram respectively. They had gained Rs 155 in the three previous sessions. Sovereign, however, closed flat at Rs 14,150 per piece of eight gram in restricted activity. Similarly, silver ready dropped by Rs 900 to Rs 27,850 per kg and weekly-based delivery by Rs 1,130 to Rs 27,300 per kg. Silver coins fell by Rs 200 to Rs 33,700 for buying and Rs 33,800 for selling of 100 pieces.