Indian Jeweller Strike Halts Demand, Hurts Gold Price

Bloomberg reported that a strike by jewellers in India may curb demand for gold and push prices down.

As quoted in the market news:

Spot gold fell as much as 0.3 percent to $1,659.52 an ounce and traded little changed at $1,661.52 by 11:26 a.m. in Singapore. The metal lost 1 percent yesterday, the biggest drop since March 14. Bullion for June delivery rose 0.2 percent to $1,663.40 an ounce on the Comex in New York.

Click here to read the full Bloomberg report.