Gold falls below 29,000 rupees mark
MUMBAI (Reuters) - 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. (Reporting by Siddesh Mayenkar; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- Twelve-hour cease-fire takes effect between Israel, Gaza militants
- India threatens to derail WTO deal, prompts angry U.S. rebuke
- UPDATE 1-Former Bear Stearns chairman Greenberg dead at 86
- Israel rejects Gaza ceasefire plan, wants changes - govt source
- UPDATE 2-Tyson Foods to shut 3 factories, cut 950 jobs
A 12-hour humanitarian truce went into effect on Saturday after Israel and Palestinian militant groups in the Gaza Strip agreed to a U.N. request for a pause in fighting and efforts proceeded to secure a long-term cease-fire moved ahead. Full Article
Amazon's far-reaching ambitions, lack of profits, unnerve investors Full Article