"There have been no deals since yesterday evening after the sudden jump in prices," said a dealer with a state-run bullion dealing bank in Mumbai....A new festival season is coming up in late August and September, so resellers have lots of time to stock up.
"I have plenty of orders in between $1,185-1,195 (an ounce)," said another dealer with a private bank.
Wednesday, July 14, 2010
Indian Gold Buying Dormant
Despite the strengthening rupee, Indian gold buying is still weak due to higher U.S. prices.