Gold slips 0.14% in noon trade

MUMBAI: Gold was trading 0.14% lower at Rs 27,443 per 10 gm at mid-day on the Multi Commodity Exchange, after gaining more than a percent on Thursday.

Industry executives said the metal may see fresh demand if prices stay between Rs 25,500 and 26,500. But if prices remain elevated, demand may come mainly from consumers exchanging old jewellery for new.

"I expect gold to correct from current levels by the month end after the FOMC ( Federal Open Market Committee) meet in the US," said Ketan Shroff, spokesman, Indian Bullion & Jewellers Association.