"I booked deals for quite a decent quantity since yesterday as prices are almost flat," said a dealer with a state-run bullion dealing bank.
"Jewellers are offering discounts of 7,000 rupees ($149.8) per kg," said another dealer of a private bank, which deals in bullion.
"I have orders below $1,204," said the first dealer. However, a weaker rupee, which makes the dollar-quoted yellow metal expensive, weighed.
That trickle is likey to become a flood if gold prices stay flat after plummeting earlier this morning.