Tuesday, May 10, 2011

Indian Physical Gold Demand Drains Away As Prices Stay Up

According to a Reuters India report, traders weren't booking many deals as the letdown from the end of Akshaya Tritiya combined with little incentive to buy because prices are still up.
"Yesterday, we saw some buying, but today it is dull," said a dealer with a state-run bullion importing bank in Mumbai.
The rupee strengthened, making the price in local terms a little better for buyers. Despite the festival being over, wedding season is continuing for the rest of this month.

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