Gold falls below 29,000 rupees mark

MUMBAI Fri Apr 12, 2013 3:38pm IST

A woman speaks on a phone inside a jewellery shop in Hyderabad May 14, 2010. REUTERS/Krishnendu Halder/Files

A woman speaks on a phone inside a jewellery shop in Hyderabad May 14, 2010.

Credit: Reuters/Krishnendu Halder/Files

Related Topics

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Popularity Poll

REUTERS SHOWCASE

Record Highs

Record Highs

Nifty touches record high; software stocks gain.  Full Article 

New Adviser

New Adviser

Arvind Subramanian likely to be chief econ adviser.  Full Article 

Pricing Mechanism

Pricing Mechanism

Govt sets up a four-member panel to re-examine gas pricing.  Full Article 

Royalty Rates

Royalty Rates

India to hike iron ore royalty, miners may struggle to pass on extra cost.  Full Article 

Diesel Deregulation

Diesel Deregulation

Oil ministry to seek Cabinet nod on diesel deregulation - sources  Full Article 

Commodities

Commodities

Gold near two-month low; set for weekly drop on interest rate fears  Full Article 

Reuters Exclusive

Reuters Exclusive

Apple iPhone 6 screen snag leaves supply chain scrambling   Full Article 

Helping Regional Mills

Helping Regional Mills

Govt raises sugar import duty to 25 pct from 15 pct.  Full Article 

Curbing Risks

Curbing Risks

RBI to lower ceiling on bank loans to a single corporate group.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage