"There has been a little buying, but I am not seeing big deals at the moment," said a dealer with a state-run bank, adding that the Indian rupee is acting as a support....Another reason, of course, is demand being saturated by the buying for the Akshaya Tritiya festival.
Dealers said demand is likely to face the seasonal monsoon slackness for the next two months. "We might have to see little buying in June and July due to monsoons," said another dealer with a private bank.
Friday, May 28, 2010
Indian Gold Buying Picks Up A Little
According to a report by the Economic Times, falling prices (in rupee terms) called forth a bit of buying: