"Demand is slightly low since yesterday due to higher prices, despite a strong rupee," said a dealer with a state-run bullion dealing bank in Mumbai....
The Indian rupee edged higher as domestic shares shed most of their early losses while some weakness in the dollar against major currencies also helped.
Friday, June 25, 2010
Indian Gold Buying Damped By High Prices
Although the rupee rose, mitigating the high price in greenbacks somewhat, Indian gold demand was still slack for the second day in a row.