Indian gold traders stay away from new deals

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Indian gold traders stay away from new deals

India's gold traders refrained from placing fresh deals on Tuesday, expecting more price falls, dealers said.

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India's gold traders refrained from placing fresh deals on Tuesday, expecting more price falls, dealers said.

* The most-active gold for April delivery on the Multi Commodity Exchange (MCX) was 0.08% lower at Rs 27,914 per 10 grams.

* "Demand is still zero as prices are still a little bit higher," said Haresh Acharya, head of bullion desk at Parker Bullion in Ahmedabad.

* A stronger rupee also weighed, as it plays a key role in determining the landed cost of the dollar-quoted yellow metal.

* Silver too fell on Tuesday, with March delivery on the MCX down 0.56% at Rs 56,109 per kg.

* At 1:15 p.m, the following were the prices in rupees being quoted by the Corporation Bank in the spot market: