MUMBAI (Reuters) - India gold futures extended gains for the fifth session in a row, to their highest in more than five weeks, prompting physical traders to remain on the sidelines, dealers said.
* The most-active gold for April delivery on the Multi Commodity Exchange was 0.52 percent higher at 28,796 rupees per 10 grams, after hitting a high of 28,828 rupees, a level last seen on December 14.
* “Buying has slowed since last two days as rates are high,” said Haresh Acharya, head of bullion desk at Parker Agrochem.
* Easing inflation and a revival in stock markets could dent gold imports by India, the world’s biggest consumer, pushing shipments down by about 35 percent in value terms in 2012/13.
* Silver also edged higher following the yellow metal.
* Silver for March delivery on the MCX was 0.55 percent higher at 57,574 rupees per kg.
Reporting by Siddesh Mayenkar; Editing by Subhadip Sircar