India gold demand abates after early week's pick-up
MUMBAI (Reuters) - India gold demand abated on Friday as prices rose late on Thursday after a modest pick-up in demand in the previous four sessions, dealers said.
"Demand is dull after yesterday's rise in prices," said a dealer with a state-run bullion dealing bank in Mumbai.
Overseas spot gold steadied near its Thursday's high of $1,047.50 an ounce.
Dealers said traders were waiting for a price dip before entering into fresh deals to stock up for the wedding season that will last till December.
"Traders would be interested if prices come down to 15,800 rupees (per 10 grams) or $1,020 (an ounce)," said Ketan Shroff, director, Pushpak Bullions.
"Demand may continue due to marriage season and we have some advance orders at $1,025 an ounce," added the dealer.
(Reporting by Siddesh Mayenkar; Editing by Harish Nambiar)
© 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






