New Delhi, December 12: Gold prices fell by Rs 250 to Rs 17,110 per ten gram in the bullion market today as investors resorted to heavy selling amid a weakening global trend.
The precious metal slid to 1,108.30 dollar from 1,130 dollar an ounce in New York as firming US dollar reduced demand for the metal as an alternate investment.
The dollar gained against a basket of major currencies from a report that showed US retail sales increased more than the market expectations.
The falling trend in gold prices was mirrored by the other precious metal silver too.
Silver plunged by Rs 450 to Rs 27,450 per kg.
Marketmen said retail customers remained on the sidelines and postponed their decision to purchase jewellery at the current higher level, further dampening the market sentiment.
–Agencies