India gold buyers continue to trickle in
MUMBAI (Reuters) - India's gold buyers continued to trickle in on Thursday to stock the yellow metal to meet festive demand, traders said.
"There is some take-off, but volumes are not huge," said Daman Prakash, director of Chennai-based wholesaler, MNC Bullion. "Sales are down by 50 percent compared to year-ago period."
The most-traded gold June traded flat at 14,288 rupees per 10 grams at 1:32 p.m., after hitting a low of 14,188 rupees in early deals.
"The demand is good but it is not that everyone is rushing in," said a dealer with a state-run bank in Mumbai.
"Most of the traders are waiting for sub-14,000 (rupees levels)," said the dealer.
Demand picked up last week as traders hunted for bargains after prices fell to a low of 14,022 rupees on April 6.
Akshaya Tritiya, which falls on April 27, is the second-most auspicious day to buy gold after Dhanteras.
© Thomson Reuters 2010 All rights reserved
Economy seen growing at 7.2 pct in FY10 - govt
The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget. Full Article
Greek crisis sets euro zone enlargement back
The Greek debt crisis has dealt a setback to prospects of enlarging the euro zone by highlighting the difficulties of managing the single currency area. Full Article





India
US
UK






