Indian Physical Gold Buying Shut Off Due To Bank Holiday

According to a Reuters report webbed by LiveMint.com, Indian physical gold buyers stayed away for a bank holiday. On the exchanges, the market was quiet.

Haresh Acharya, head of bullion desk at Parker Agrochem, said there was “no extraordinary buying in the market”. He expects gold to trade in the range of 20,600-20,900 [rupees].

“Market is quiet and is expected to remain as we all are waiting for US jobs data, non-farm payrolls report,” said Murukesh Kumar, senior analyst at JRG Wealth Management.

The caution showed by other traders was warranted, as gold tumbled once the payroll data were released.