Thursday, April 7, 2011

Indian Physical Gold Demand Weak Due To High Prices

According to a Reuters report webbed by, Indian demand for physical gold is dormant due to buyers waiting for a bigger correction.
"Demand is weak. Jewellers and retail consumers are waiting for a bigger correction," said a dealer with a private, bullion-importing bank. "If market corrects by 700-800 rupees (per 10 grams), again they will start buying."
The Indian rupee was steady yesterday, neither giving buyers a break nor hindering them.

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