| Gold rose marginally in the domestic market due to a depreciating rupee even as global crude and metal prices beat a retreat on fresh fears of a global slowdown with China warning of a recession. US lawmakers added to the global gloom by their inability to forge a consensus on a $1.2 trillion debt reduction plan.
In the international spot market, gold was down 0.8%, $1,711 an ounce at around 7.30PM IST, off an intra-day low of $1,699. It fell 3.5%, and traders are betting on a further fall. But with the rupee depreciating against the dollar, there may not be too much to cheer for Indian consumers during the current marriage season...............................................Full Article: Source |