Gold recovers on bargain-buy by traders
MUMBAI (Reuters) - India gold futures recovered partially on Friday from their lowest level in a month as physical traders hunted for bargains to meet wedding season demand, dealers said.
* The most-active gold for April delivery on the Multi Commodity Exchange (MCX) was 0.23 percent higher at 27,988 rupees per 10 grams, after hitting a low of 27,730 rupees on Thursday, a level last seen on January 25.
* India, the world's biggest buyer of bullion, consumes about 900 tonnes of the yellow metal annually.
* The contract had shed 3 percent on Wednesday, when investors exited bullion on speculation that central banks might be done with easy monetary policies.
* "There is buying after two days of fall in prices ... people who were on the sidelines are buying now," said Harshad Ajmera, proprietor of JJ Gold House in Kolkata.
* Silver prices edged higher following the yellow metal.
* Silver for April delivery on the MCX was 0.31 percent higher at 58,511 rupees per kg.
(Reporting by Siddesh Mayenkar; Editing by Rajesh Pandathil)
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