MUMBAI, March 14 (Reuters) - India gold fell about a percent on Wednesday afternoon, extending losses for a fourth straight session, spurring deals from physical buyers as the peak wedding season neared, dealers said.
* The most-active gold for April delivery on the Multi Commodity Exchange (MCX) fell 0.9 percent to 27,581 rupees. The contract shed 0.58 percent in the previous three sessions.
* Currently wedding season is underway in India, the world’s biggest buyer of bullion. Festivals will also take place until May.
* “Deals are happening as prices have come down to 27,500 rupees ... all are waiting for the budget on Friday,” said Mayank Khemka, managing director, Khemka International in Delhi.
* Overseas gold fell for a third day as weaker equity markets and stronger dollar weighed on sentiment.
* Silver also fell following gold. Silver for May delivery on the MCX was 0.69 percent lower at 57,855 rupees per kg.
At 1:15 p.m, the following were the prices in rupees being quoted by the HDFC Bank in the spot market :
Gold .999/10 grams 27,625 27,918
Silver .999/kg 56,860 57,023
At 2:43 p.m., following were the prices in rupees on the Multi Commodity Exchange of India Ltd. :
Contract Current price Net change
Apr gold 27,630 -202
May silver 57,926 -333 (Reporting by Siddesh Mayenkar; Editing by Rajesh Pandathil)