Asia Gold-Premiums soften; Indian weddings stir up trade

* Premiums ease to 50 U.S. cents in Singapore

* Light physical buying from India, Thailand.

* Buyers await more correction in gold price, HK premiums soft

By Lewa Pardomuan and Ruchira Singh

SINGAPORE/MUMBAI, June 29 (Reuters) - Premiums for gold bars dipped in Asia on Monday following bullion's rise to a two-week high, but the physical market saw support from purchases by jewellers in main consumer India and the industrial sector. Gold bars were offered at a premium of 50 U.S. cents an ounce to the spot London prices in Singapore, down from 70 cents last week. Premiums slipped by a couple of cents in Hong Kong but dealers noted some bargain buying. <GOLD/ASIA1>.

"Demand is moderate. Weddings are on in south India so there is some buying especially as people have got slightly used to the current prices," said Ganesh Agarwal, a dealer in Chennai in India's southern state of Tamil Nadu.

"The monsoon might turn out to be a big problem. It could bring down sales by 10-20 percent. But only by end-August can we be sure," he added.

The July-September monsoon, crucial to agriculture and rural incomes, has been delayed and is forecast to be at 93 percent of the long-term average. Demand for gold in India hinges on a good monsoon, which boosts farm output and rural incomes.

Gold XAU= rose $2.15 an ounce to $940.20 in volatile trade on Monday, having earlier dropped to $933.40 on profit taking. Gold hit a two-week high of $948.20 last week but it was still well below a three-month high of $989.80 struck on June 3.