Gold prices tumbled by Rs 194 as investors shown renewed interest in the surging equity markets. Sentiment also turned bearish as gold fell in the international markets, as the dollar firmed against leading currencies. On NYMEX Gold prices fell by USD 12 at USD 778 an ounce.
On MCX, Gold December,2008 contract opened at Rs 12,725 as against its earlier closing of Rs 12,656 and traded at Rs 12,462, down 1.53% (5.47 p.m, Tuesday). Gold February, 2009 contract moved down by 1.51% at Rs 12,552 after opening at Rs 12,818 in morning session.
Similar trend was notice at NCDEX counter where gold November,2008 contract was trading down 0.57% at Rs 12,500 after opening at Rs 12,710. Gold December, 2008 contract declined by 1.41% at Rs 12,630 as against its previous closing of Rs 12,810. It opened at Rs 12,690 in the morning trade.
