Gold falls by Rs 370 per 10 gm

Gold prices tumbled by Rs 370 per 10 gm to Rs 12,155 on the bullion market here on Wednesday on persistent offerings by stockists, mainly prompted by a fall in global markets.

Silver also eased further on lack of industrial demand.

Gold prices slipped in Europe by more than two per cent as the dollar strengthened to a two-year high against a basket of currencies and oil prices slipped nearly $3 a barrel.

Spot gold fell to a session low of $753.70 an ounce before recovering to $755.60/758.10 an ounce as against $770.10 an ounce late in New York on Tuesday.

 

Silver was also trading lower at $9.86/9.94 an ounce as against $10.07 an ounce previously.