Gold prices fell from their record level in the national capital on Wednesday, losing Rs 40 to Rs 19,010 per ten grams on reduced offtake at existing higher levels amid a weakening global trend.

Investors shifting their funds from bullion to rising stock markets also influenced the trading sentiment to some extent, traders said.

The absence of retail customers at existing higher levels also weighed on prices of the yellow metal, they added.

Gold in overseas markets, which normally sets the price trend here on the domestic front, was being traded 0.2 per cent lower at $ 1,223 an ounce.

Pure gold (99.9) fell by Rs 40 to Rs 19,010 per ten grams. The metal had surged to all-time high of Rs 19,050 in Tuesday’s trade. However, gold of 99.5 per cent purity gained Rs 10 to Rs 18,910 per ten grams.

Sovereigns held steady at Rs 14,650 per piece of eight grams.

Silver ready remained in demand among industrial units and jewellers and advanced by Rs 100 to Rs 29,900 per kg, while weekly—based delivery rose by Rs 150 to Rs 29,590 per kg.

Silver coins held steady at Rs 34,500 for buying and Rs 34,600 for selling of 100 pieces.


Gold soars to all-time high June 1, 2010

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