Gold eases to spur slight demand pick-up

MUMBAI (Reuters) - Gold eased from their record highs on Tuesday, triggering a slight pick-up in wholesale demand in the middle of wedding season, but a weaker rupee weighed on traders' sentiment, dealers said.

"Since gold touched a high of about $1,173 (an ounce) and now it is at about $1,155, therefore some wedding buyers are there... I managed filling-up 40 kgs of orders since morning," said a dealer with a state-run bullion dealing bank.

International spot gold eased from their record high to trade at $1,165.10/1,165.95 an ounce, after touching a new all-time high of $1,173.50 in the previous session.

A weak rupee makes the dollar-quoted asset expensive.

Dealers said some traders were stationed on the sidelines seeking a fall in prices to replenish stock for the wedding season, which will last till the end of December-end.

"People are asking for $1,150, we have a few orders at that level," said another dealer with a state-run bank.

(Reporting by Siddesh Mayenkar; Editing by Prem Udayabhanu)

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