New Delhi, September 25: Gold prices today tumbled by Rs 320 at Rs 15,770 per 10 gram in the bullion market here on frantic selling by stockists, sparked by reports that the metal in the global market suffered heavy losses as dollar rebounded.
Marketmen said selling pressure gathered momentum as the metal in the overseas markets recorded its biggest loss in the last two months after the dollar strengthened on signs that global leaders will act to stabilise global financial markets, boosting demand for so-called haven currencies.
Gold fell to 996.53 dollar an ounce from 1,020 dollar per ounce in New York. It had touched 1,024.28 dollar on September 17, the highest since it reached a record in March 2008.
–PTI