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India spot gold prices close lower on global leads

Posted by Yogesh on Tuesday, 9 September, 2008

MUMBAI (Thomson Financial) – India spot gold closed lower Tuesday, tracking the fall in international markets, with limited physical demand capping further losses, market participants said.

In London, gold came under pressure, struggling to stay above $800 an ounce level because of a strong U.S. dollar.

Physical buying interest kept the downside limited in the yellow metal, said a treasury official from the state-run Corporation Bank.

In Mumbai, gold of 0.995 purity closed 65 rupees lower at 11,680 rupees per 10 grams and gold of 0.999 purity closed 55 rupees lower at 11,755 rupees per 10 grams.

Silver of 0.999 purity closed 240 rupees lower at 19,780 rupees per kilogramme.

Source CNBC

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