Indian Physical Gold Buying Comes Back With Price Slump

According to a report webbed by Sify Finance, Indian gold buying was stimulated by a rise in the rupee and a consequent price drop for Indian buyers.

There is buying today, I placed orders for 100 kg at $1,406/1,408 (an ounce)," said a dealer with state-run bullion importing bank, adding "there could be buying if prices fall to $1,387/1,401."

Whether those bargain hunters get their wish is for the weekend to decide.