"Good demand was there at USD 1,135-1,137 (an ounce) as the rupee is acting in favour. We did about 50-70 kgs since morning," said a dealer with a state-run bank in Mumbai.
The Indian rupee was trading close to near two month highs as strong domestic shares and a sharp fall in the dollar versus major currencies supported sentiment. A strong rupee makes the dollar-quoted asset cheaper.
Since part of it is seasonal, the demand is likely to wane as the season ends.
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