Reply #45: India gold steady; physical demand remains weak

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http://www.moneycontrol.com/news/commodities/india-gold-steady-physical-demand-remains-weak_543821.html

India's gold futures were treading water on Monday afternoon as the overseas market was steady amid a fall in the Indian rupee, and local demand was weak as buyers awaited a price fall, jewellers and analysts said.

The most-active gold for June delivery on the Multi Commodity Exchange (MCX) was 0.25% higher at Rs 22,016 per 10 grams at 2:43 pm.

"There wasn't any change in buyers' perception. They were waiting for a correction in prices," said Ghanshyam Nichani of Dhanraj Jewellers based in Mumbai. "Wedding season wasn't enough to lift demand."