Indian Wholesale Gold Demand Stagnant

According to the Economic Times, a quest for lower prices eased demand in the wholesale market.

"Yesterday we did about 75-100 kgs, the lowest deal was done at $1,132 (an ounce) up to $1,144," said a dealer with a state-run bank....

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Supplies of the yellow metal were getting restored, after a volcano in Iceland treatened to disrupt shipments, dealers added. "Yesterday we recieved one consignment after a gap of 10 days, tomorow we are getting one and on Monday we will be getting another two," said the first dealer.