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.
Also read: Gold in India likely to go down: Emkay
The most-active gold contract for June delivery on the Multi Commodity Exchange (MCX) hit a low of Rs 28,945 ( USD 530), before trading Rs 179 lower at Rs 29,005 per 10 grams at 1003 GMT.
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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