Indian Gold Demand Remains Weak

According to a Reuters India report, dealers are still waiting for lower prices to restock.

"There is no much interest at these levels... yesterday there was minor buying at the dip below $1,140 (an ounce)," said a dealer with a state-run bullion dealing bank.

"There may be interest at $1,125 levels," said another dealer with a private bank.

However, a strong rupee, which makes the dollar-quoted asset cheaper aided sentiment, they added.

Given how the metal's performed so far today, they may get their wish.