Gold Rises In Rupee Terms, Deterring Physical Buyers

According to a Reuters report webbed by the Economic Times, Indian physical gold buying faded as prices went up in rupee terms.

"At every high there is resistance and people are now edgy about the 21,000-rupee [per 10 grams] mark," said a dealer with a state-run bank in Mumbai that imports bullion.

Normally, the dealer quoted gives a figure on how much he booked. There may have been no deals this time.