Gold prices in India, the world's biggest buyer of the metal, fell below the Rs 29,000 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 Rs 28,945, before trading Rs 179 lower at Rs 29,005 per 10 grams at 3:33
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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