"Who'll buy at these record levels? There could be some correction. Traders are waiting for this," said a dealer with a state-run bullion dealing bank in Mumbai...A stronger rupee kept a lid on prices in rupee terms.
"There are some orders for Akshaya Tritiya at $1,481/1,483," said the dealer.
Monday, April 18, 2011
Indian Physical Gold Demand Wilts As Prices Hit Record
Although the festival of Akshaya Tritiya is coming up next month, during which a lot of gold is bought, Indian physical gold buyers at the wholesale level are noticeably reluctant to buy at current prices.