MUMBAI, Dec 10 (Reuters) - Indian gold prices were higher on Wednesday on firm overseas cues, weak domestic demand and as some traders booked profits, dealers said. "There has been no business since morning, we have sold only 2 kgs of gold," said a dealer with a state-run bank in Mumbai. Dealers said well-stocked traders are selling gold futures at 12,250 rupees (per 10 grams) or $780 (an ounce) level. Overseas gold climbed more than 1 percent on Wednesday, lifted by the dollar's fall against the euro and rising oil prices, while a tentative deal to aid U.S. automakers also offered support. See [ID:nLA371346] "We have also seen recycled gold trickling in at these levels," said Ketan Shroff, managing director at Pushpak Bullions Pvt Ltd, a Mumbai-based bullion trading house. Some buying occurred when gold was around $740 (an ounce) level last week, said Shroff. Any dip would be viewed as a buying opportunity, he said. Demand would trickle in if prices ease to $765 (an ounce) level and if rupee stablises around 49 to the dollar, said another dealer with a private bank in Mumbai. The dollar-rupee exchange rate plays an important role as most of India's gold requirements are imported.

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