Further, signs of a decline in physical demand for gold in India, the largest bullion consumer, weighed on the yellow metal. Gold purchases in India may fall to less than 150 metric tons in the second half of 2013, compared with 478 tons during the same period a year earlier amid higher tariffs and restrictions, , said the All India Gems & Jewellery Trade Federation.
Gold futures for December 2013 contract, at MCX, were trading at Rs. 30,562 per 10 grams, unchanged, after opening at Rs. 30,499, against the previous closing price of Rs 30,562. It touched an intra-day low of Rs 30,490. (At 11:51 AM).
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