* U.S. leading indicators and Federal Reserve Chairman Ben Bernanke testimony at 7:30 p.m.
MUMBAI, Oct 20 (Reuters) - India's gold prices were higher on Monday tracking firm foreign markets, and traders were on the back foot after moderate buying on Friday, when prices dipped to a month's low, dealers said.
"There is no sale at all in gold," said Vipin Sharma, dealer in M.D. Overseas Ltd, a New Delhi-based trading company. "People are looking for a fall of 5 to 10 percent."
Foreign gold, which guides the local markets, rose more than 3 percent on bargain-hunting as crude oil gained and the dollar slipped. In the local market, a stronger rupee against the dollar, after the central bank cut its key lending rates, softened some of the overseas gains.
The Indian rupee affects gold prices as most of India's gold is imported and paid for in the U.S. currency.
Bank dealers said the market's appetite remained strong, but buyers could afford to wait for dips.
"Demand surfaces at $785 an ounce and then slows down if prices move higher," said one dealer in a large bank.
However, demand for silver remained strong at prices near more-than-one-year lows, dealers said.
Following were prices being quoted by HDFC bank in the spot market at 1:15 p.m. INBULL03:
