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Gold falls below Rs 29K mark

Gold falls below  Rs 29K mark
Highlights

Mumbai (Agencies): Gold prices fell below Rs 29,000 mark on Friday, a level keenly watched by importers and jewellers to re-stock gold for weddings...

gold2Mumbai (Agencies): Gold prices fell below Rs 29,000 mark on Friday, 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 MCX hit a low of Rs 28,945, before trading Rs 179 lower at Rs 29,005 per 10 grams. 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.

Meanwhile, the yellow metal hit at its lowest since July 2011 with selling accelerating sharply as prices broke through their 2012 at $1,527 an ounce.

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