Mumbai: Gold prices on Thursday fell to seven-month low of 0.9 percent on multi-commodity exchange owing to decline in overseas market.
The most active gold contract for April delivery on the Multi Commodity Exchange was last traded at 0.92 percent lower at 29,307 rupees per 10 grams, after falling to 29,305 rupees earlier, the lowest level since July 23, 2012.
Analyst said a weak global trend on concern that the Federal Reserve will signal plans to end its third round of stimulus measures, easing demand for the precious metal as an inflation hedge also influenced the sentiment.
