Indian Gold Buyers Still Waiting For Lower Prices

According to an Economic Times report, Indian wholesale demand is still low because buyers are waiting for lower prices before stocking up for the wedding season next month.

"Market is looking at prices below $1,100 an ounce before (we) start buying...international gold is still trading around $1,125 ..the Greece problem is giving some support," said a dealer with a Mumbai-based private bank, which deals in bullion.

It notes that the demand for physical was evident when prices were between $1,100 and $1,110.