Indian Physical Gold Buying Edges Up As Price Falls

According to a Reuters report webbed by the Economic Times, Indian gold buying notched up a little due to a lower price caused by a stronger rupee. Traders took the opportunity to stock up for the wedding season.

"I covered for 70 kgs of gold from morning at $1,400 (an ounce)," said a dealer with a state-run bullion importing bank.

The wedding season now on, traders are more likely to open their wallet.


I should say that spot gold never reached the price given by the above dealer; it seems to be a misprint or other kind of slip.