Monday, March 14, 2011

Indian Physical Gold Buyers Largely Wait For Decline

According to a Reuters report webbed by the Economic Times, there was some physical gold buying by traders last night but many are choosing to hold back for lower prices for wedding-season stock-ups.
"There are a few deals, I booked about 50 kgs at $1,416 (an ounce)," said a dealer with a state-run bullion dealing bank.
A stronger rupee helped, but gains by the rupee were limited.

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