Gold Price falls from 7-week high on dollar, sales from bullion funds

London (Apr 7)  Gold today retreated from a seven-week high as the dollar strengthened and investors sold metal from bullion-backed funds.

 Gold fell 0.4 per cent to $1,210.34 an ounce. It reached $1,225 earlier Tuesday, the highest since February 17. Silver also declined 1.2 per cent to $16.78 an ounce.

 Holdings in exchange-traded products backed by gold fell 1.8 metric tons to 1,618.7 tons, the lowest since mid-January.

Platinum lost 0.9 per cent to $1,167 an ounce, after reaching $1,187 on Monday...the highest since March 5.

Source: EconomicTimes.india