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Gold buyers cautious; demand outlook good

Gold buyers cautious; demand outlook good
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First Published: Wed, Mar 31 2010. 03 52 PM IST
Updated: Wed, Mar 31 2010. 03 52 PM IST
Mumbai: India physical gold prices were almost steady on Wednesday, as traders stayed away from purchases at current prices for another session ahead of wedding season, dealers said.
“Everyone expects the prices to be lower close to 16,000 levels before purchasing more...but that’s seems unlikely the wedding season will be for next two months and demand will keep prices higher,” said a dealer at a private bank, which deals in bullion.
International gold ticked higher in early European trade on Wednesday, as the euro rose above 1.3400 levels against the US dollar and was supported by strong physical buying in Europe.
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First Published: Wed, Mar 31 2010. 03 52 PM IST
More Topics: Markets | India | Gold | Commodity | Bullion |