Gold demand stays firm on price drop, festive demand

MTECHTIPS

Gold demand stays firm on price drop, festive demand

Gold demand in India, the world's biggest buyer of the precious metal, remained vigorous on Thursday as prices were hovering near their lowest in a fortnight, enticing retail consumers preparing for the peak festive season.
By 2.37 p.m., the most-active gold contract for December delivery on the Multi Commodity Exchange was up 0.16 percent at Rs 30,894 per 10 gm.
In the previous session, the contract fell to Rs 30,827, the lowest level since October 5.

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