"Offtake is very little today on a sudden spike in prices," said a dealer with a state-run bank in Mumbai....Also draining demand was a weaker rupee, which made gold more expensive for them.
"I have a few orders below $1,150," said another dealer with a private bank.
Wednesday, April 28, 2010
Indian Wholesale Gold Demand Remains Dormant
According to a Reuters India report, Indian wholesale demand remained listless for the second day in a row - today, because of yesterday's run-up.