II:Gold falls in India tracking global drop as stocks rally
Gold prices in India fell on Monday after rising in the past three sessions, as the yellow metal lost some shine in the international market and the rupee rallied in line with the advance in stocks.
At 1:14 p.m., the most-active gold for October delivery on the Multi Commodity Exchange (MCX) was trading 1.95% lower at Rs. 27,099 per 10 grams.
Gold prices in the international bullion market fell for the first time in three days after Federal Reserve Chairman Ben S. Bernanke refrained from adding more monetary stimulus at the Jackson Hole weekend summit of central bankers.
Spot gold was down 0.9% at US$1,812 an ounce at 2:20 p.m. in Singapore, after dropping 1.2% earlier. The precious metal is down as much as 11% from its all-time high of US$1,913.50 on Aug. 23.
