"There were a few stray deals in the morning and rupee is in supporting mode," said a dealer with state-run bullion dealing bank....That might be the case tomorrow.
"Imports are not happening, most scrap is used to meet demand in the current slack season," said another dealer with a private bank, adding "any corrections to Rs 18,200-18,500 would be bought."
Wednesday, June 23, 2010
Indian Wholesale Demand Still Dormant
Although the strengthening rupee helped, traders still stayed away from buying because of the risk of being stuck with high-priced stock during the slow season.