Gold cheaper by Rs 2K over past 5 weeks due to low demand, cash crunch

Gold prices fell sharply on Friday, hurt by low consumer demand and a cash crunch among traders. A strengthening rupee following a sharp surge in the inflow of foreign money from investors and “illegal imports” were among the other reasons for the fall, say experts.
 
In Mumbai, the prices fell 6.2 per cent, or by Rs 2,085 per 10 gram, from the all-time high — seen on February 20. The price is Rs 31,640 now. During the period, international prices fell by 3.7 per cent.
 

Consumer demand traditionally remains low in March as people rush