New Delhi, Feb 11 (PTI) Contrary to a positive global trend, gold prices declined by Rs 25 to reach Rs 16,565 per ten grams on the bullion market here today due to reduced offtake at higher levels.
Standard gold and ornaments fell Rs 25 each to Rs 16,565 and Rs 16,415 per ten grams, respectively. Sovereign too traded lower by the same margin at Rs 13,925 per piece of eight grams.
Marketmen said the price of the precious metal in the overseas markets, which normally sets the trend on the domestic front here, failed to influence the trading sentiment as local customers adopted a 'wait-and-watch' policy.
In the overseas markets, gold gained 0.7 per cent to USD 1,079.85 an ounce rebounding from a near three-month low as a declining US currency fuelled demand.
