Snapping yesterday’s gain, gold prices on Wednesday fell by Rs 50 to close at Rs 13,070 per 10 gm on the bullion market here on weak global cues and investors seeking to raise cash deposits after stock markets crash.
The precious metal witnessed selling pressure after falling for the second day in Asia to trade below $900 an ounce level. On the Mumbai bullion, standard gold closed at Rs 13,015 per 10 gm, up from rs 12,970 yesterday. Silver closed at Rs 20,890.