UPDATE 1-India gold demand low, buyers eye further falls

(Updates to trends in the physical market)

* Spot gold down at $877.30 an ounce <XAU=>

* London Brent crude weak at $122.61 a barrel LCOc1

* Rupee weak at 42.125 per dollar <INR=IN>

* U.S. retail sale data for April 1230 GMT [MI/DIARY]

MUMBAI, May 13 (Reuters) - India's gold demand was low on Tuesday despite a fall in prices as buyers awaited further dips, dealers said.

"Demand is not very good at the moment...there has been some interest at lower levels but buyers are waiting for further price falls," said a dealer in a large private bank.

Indian gold futures eased on Tuesday tracking overseas weakness and falling crude oil prices.

"There was some good demand during weekends. But now the marriage season is almost over and we are not expecting the demand to pick up," said Ashish Pethe of Mumbai-based Waman Hari Pethe Jewellers.