Wednesday, March 30, 2011

Indian Physical Gold Buying Fades Away Due To Higher Prices

According to a Reuters report webbed by the Economic Times, traders pulled away from buying after seeing the gold price rise.
"Traders want lower prices, a fall below 20,500 rupees could be of help," said a dealer with a state-run bullion importing bank.
That price is about 1% below where gold was trading at in rupee terms at the time the article was written. A stronger rupee helped staunch the increase.

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