Gold falls below 29,000 rupees mark

Source : REUTERS
Last Updated: Fri, Apr 12, 2013 10:51 hrs
Gold Bullion from the American Precious Metals Exchange (APMEX) is seen in New York

Gold prices in India, the world's biggest buyer of the metal, fell below the 29,000 rupees mark, a level keenly watched by importers and jewellers to re-stock gold for weddings and festivals.

The most-active gold contract for June delivery on the Multi Commodity Exchange (MCX) hit a low of 28,945 rupees, before trading 179 rupees lower at 29,005 rupees per 10 grams at 3:33 p.m.

The wedding season has begun in India and will continue till early June. Akshay Tritiya, the second biggest gold buying festival after Dhanteras, also falls in this period.

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