Indian Physical Gold Buyers Still Leery, But Some Buying

According to a Reuters report webbed by Business Standard, buying was muted due to high prices but there was some action due to the need to stock up for the harvesting and wedding season.

"There were some deals at $1,414 (an ounce)," said a dealer with a state-run bullion dealing bank, adding, "Most of the orders are there at $1,408."

The buy prices have been moving up with gold, suggesting that more Indian buyers are becoming acclimatized to the rally.