Gold down 3.42% as investors stay away

Gold tumbled 3.42 per cent on Friday in local markets as investors stayed away from fresh booking in anticipation of a correction. Retail consumers also kept away from active buying. Standard and pure gold fell Rs 530 each to Rs 12,490 per 10 gram and Rs 12,560 per 10 gram respectively.

The yellow metal, in rupee value, hit a high of Rs 13,020 per 10 gram, a gain of over Rs 1,200 in previous trading session.