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Gold prices fell by Rs 150 to Rs 30,100 per 10 grams at the bullion market on Wednesday, tracking a weak trend overseas amid slackened demand from retailers at prevailing levels at domestic spot market.
Aggressive buying from jewellery stockists and traders in view of the fast-approaching major gold-buying festival - Akshaya Tritiya also weighed on trade.
Don't place your bets on the yellow metal as yield on it has fallen sharply due to declining consumer interest and better investment options.
Both contracts remained near 2016 highs of $48.19 and $46.14 per barrel respectively, and WTI's smaller fall was a result of declining US crude output, traders said.
The government is hoping to succeed with the recently launched gold schemes by Prime Minister Modi.
Were one to ask financial experts to name the best asset class in early 2016, few would have hit the right answer: Gold
Kerala-based Muthoot Pappachen Group has set itself a target of processing 80 kg jewellery by March next year and 200 kg by March 2017
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