JC Sharma, VC and MD, Sobha Developers says the company may not meet its sales value target due to slowdown in Chennai and Bangalore markets.
The metal has been trading near the USD 2 per pound range because of weak demand, particularly from China, that uses almost half the global supply amid its development.
Gold prices were trading higher in major cities of India on Tuesday. In Chennai market, prices of 24-carat gold per 10 gram were up by Rs 20 at Rs 30530 and rates of 22-carat gained by Rs 20 at Rs 28550.