Indian Wholesale Gold Demand Still Dormant

According to a report by the Economic Times, the market reamined listless for the second day in a row.

"Last two days demand was dull... even today I did less quantity," said a dealer with a state-run bank in Mumbai....

"There are previously placed orders below $1,150," said another dealer with a private bank.

The bargain point is inching up, but it's still well below the current price. There's no sign of an inventory squeeze.