<p>Tracking global trends, gold prices fell for the third day today, triggering hopes of renewed buying, particularly in retail and jewellery markets, during the ongoing festival season.<br /><br />Gold fell by Rs 100 to Rs 31,400 per 10 grams in the Delhi bullion market. The metal has lost Rs 225 in the last two sessions.</p>.<p>In Mumbai, the rate was Rs 30,775, down by Rs 125. In Chennai, it was Rs 31,055 unchanged from its last closing price.</p>.<p>Traders said global prices declined tracking global cues. The metal fell by one per cent to six week low of USD 1,712.02 an ounce in London, amid dollar gaining strength.<br />Retail and jewellery purchase usually peak in the festive season in India, the largest importer of gold.</p>.<p>Traders said there has been apprehensions that current high prices may deter buyers this year. Gold last month had broken all previous records to set an all-time high of Rs 31,850 per 10 grams.<br /><br />They decline in prices just weeks ahead of peak festival season (Dhanteras-- considered most auspicious day for buying gold --falls on November 11), has, however, triggered hopes of retail buying getting a boost this festival season.</p>.<p>Meanwhile, the US Dollar Index, a measure against six major trading partners, climbed to a one-week high, further giving hopes that prices will ease in global markets. <br /><br /></p>
<p>Tracking global trends, gold prices fell for the third day today, triggering hopes of renewed buying, particularly in retail and jewellery markets, during the ongoing festival season.<br /><br />Gold fell by Rs 100 to Rs 31,400 per 10 grams in the Delhi bullion market. The metal has lost Rs 225 in the last two sessions.</p>.<p>In Mumbai, the rate was Rs 30,775, down by Rs 125. In Chennai, it was Rs 31,055 unchanged from its last closing price.</p>.<p>Traders said global prices declined tracking global cues. The metal fell by one per cent to six week low of USD 1,712.02 an ounce in London, amid dollar gaining strength.<br />Retail and jewellery purchase usually peak in the festive season in India, the largest importer of gold.</p>.<p>Traders said there has been apprehensions that current high prices may deter buyers this year. Gold last month had broken all previous records to set an all-time high of Rs 31,850 per 10 grams.<br /><br />They decline in prices just weeks ahead of peak festival season (Dhanteras-- considered most auspicious day for buying gold --falls on November 11), has, however, triggered hopes of retail buying getting a boost this festival season.</p>.<p>Meanwhile, the US Dollar Index, a measure against six major trading partners, climbed to a one-week high, further giving hopes that prices will ease in global markets. <br /><br /></p>