Gold weakens

Gold fell sharply by Rs 430 to Rs 12,600 per 10 grams on the bullion market here today on nervous selling by stockists, sparked by a steep fall in its prices in the US market after the release of the consumer confidence data last night. Selling pressure in the domestic market gathered momentum on reports that gold fell by nearly $18 in the US markets on Wednesday night after the consumer confidence data was released which was below expectation, marketmen said