Major cut in gold price

[minisoji]

KOCHI: A major decrease has been registered in the price of gold. After a cut of Rs 560 per eight grams, the price of the yellow metal is Rs 21,200. The price per gram is Rs 2650 after a fall of Rs 70.

The drop in the price of the metal in the international market reflected in the domestic market. A fall of Rs 1100 has been witnessed in the international market.

The reason for the fall is investments turned to stock markets from gold, in the USA.

Another reason cited is that countries like Cyprus, Portugal and Spain have started selling gold to tide away the financial crisis.


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