RTRS: India gold demand improves on marriage buying
* Spot gold up at $739.10 an ounce
* London Brent crude down at $51.51 a barrel LCOc1
* Rupee weak at 49.92 per dollar
* U.S. consumer price index data for October 7 p.m [MI/DIARY]
MUMBAI, Nov 19 (Reuters) - India's gold demand improved Wednesday as retail investors, attracted by stable prices, rushed to buy for the marriage season, dealers said.
"Prices have become pretty much stable and people don't expect them to fall further. So they are buying at their usual a pace," said Ashish Pethe of Waman Hari Pethe Jewellers.
MCX December gold edged up on Wednesday tracking firm overseas markets and a weak rupee. It has been trading within a range of 11,500-11,900 rupees for the last one week.
Overeas gold prices rose in Europe as the dollar softened against the euro and oil prices held steady.
At 4:23 p.m., the partially convertible rupee was at 49.92, weaker than 49.66/67 at close on Tuesday.
India imports most of its gold and weak rupee, which makes imports costlier, pushes up domestic prices.
Wedding season demand is likely to continue till early 2009, said a dealer with a large private bank.
