Gold falls sharply

Gold prices resumed sharply lower by Rs 215 per 10 grams to Rs 12,050 on the bullion market here today due to fresh offerings by stockists on the back of fall in global markets.
In New York, gold prices declined on profit-taking on Monday following the support of US to International Monetary Fund for the sales of the precious metal.


Turning to the local market, standard gold (99.5 purity) fell to Rs 12,050 from the yesterday's closing level of Rs 12,265.

Pure gold (99.9 purity) also slipped to Rs 12,110 from Rs 12,320 yesterday.
PTI