RTRS: UPDATE 1-India gold demand weak as prices remain high
* Spot gold down at $816.85 an ounce
* London Brent crude up at $51.71 a barrel LCOc1
* Rupee firm at 49.35 per dollar
* U.S. weekly jobless claims data 7 p.m. [MI/DIARY]
MUMBAI, Nov 26 (Reuters) - Indian gold demand remained weak on Wednesday as prices were hovering near the psychological level of 13,000 rupees, dealers said.
"Demand has come down slightly...though prices have come down a bit, they are still at a very high level," said Nilesh Shah of Shubham Jewels.
The benchmark December contract MAUZ8 on MCX eased on Wednesday on overseas weakness. It has gained 10 percent in the last six trading sessions.
Overseas gold fell more than 1 percent on Wednesday after the U.S. dollar bounced against the euro and on profit taking, following the metal's six-week high hit on Tuesday.
Buyers are now waiting for the prices to come down below 12,000 rupees to make fresh purchases, said a dealer with a large private bank.
A spurt in sales occured during first half of November, but now it has slowed down, he said.
