Gold prices declined below the Rs 28,000 mark across the country, barring Delhi, on Friday as investors offloaded gold stocks to cover losses in equity and other commodities.
The precious metal in Mumbai suffered the most, losing Rs 580 to Rs 27,585, followed by Kolkatta where it fell by Rs 440 to Rs 27,965.
In Chennai gold declined by Rs 350 to Rs 27,970 per ten grams, while in Delhi it slumped by Rs 300 to Rs 28,040.
Panicky speculators also offloaded their position in futures trading, placing the metal lower by nearly 2 per cent to Rs 27,361 per ten grams on the MCX.
From: http://ping.fm/Qpjba
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