* "Demand was weak. People were waiting for correction. They were waiting for level of around $1,470 an ounce," said a Mumbai-based dealer with state-run bank dealing in bullion.
* "Wedding season demand has been falling. Most people have already made purchases for weddings," said a dealer with another state-run bank. Wedding season in India, the world's largest consumer of bullion, will continue through May.
It looks like yesterday's plummet gave those buyers the idea of going for $1,470. That's a dollar below the noontime bottom.