Gold falls below 29,000 rupees mark

Last Updated: Fri, Apr 12, 2013 10:51 hrs

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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