Monday, July 19, 2010

Indian Gold Buying Strengthens On Lower Prices

According to a report by the Economic Times, there was a fair bit of buying due to gold prices dropping below $1,200.
"Good fall has led to good demand... there were deals at all levels be it $1,200/1,190/1,186 (an ounce)," said a dealer with a private bank in Mumbai, which deals in bullion....

"My order sheet is showing advance orders below $1,185," said another dealer from a state-run bullion dealing bank.
Sentiment, though, has been dampened somewhat by a weaker rupee.

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