MUMBAI: Gold futures slipped on Friday to trade near their lowest level in a week, but price declines were not enough for importers to book the metal ahead of weddings and festivals. Silver also fell from the highest level in a week.
The wedding season will begin by mid-January and continue until May. Festivals will also take place during this period. India is the biggest buyer of the metal.
The actively traded gold for February delivery on the Multi Commodity Exchange ( MCX) was 0.15 percent lower at 30,889 rupees per 10 grams at 3:12 p.m., following weak leads from international markets and on a stronger rupee. It hit a low of 30,841 rupees, close to the lowest level in a week struck on Thursday.
