Wednesday, June 2, 2010

Indian Gold Demand Remains Soft As Prices Make New Record

According to a report by the Economic Times, Indian gold buying has remained weak as the price comes off a new record high in rupees.
"It is very dull today, even rupee is not in a supporting mode," said a dealer with a state-run bank in Mumbai. A weak rupee makes the dollar-quoted asset expensive....

"I have advanced orders below $1,205 (an ounce)," said another dealer with a private bank.

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