RTRS: India gold at record high, buyers await a fall
* Spot gold lower at $905.20 an ounce
* London Brent crude lower at $45.54 a barrel LCOc1
* Rupee steady at 48.985 per dollar
* U.S. advance Q4 GDP 1330 GMT [MI/DIARY]
MUMBAI, Jan 30 (Reuters) - India gold prices reached its all-time high on Friday deterring buyers from fresh purchases in the midst of a wedding season, and consumers cashed in on the price rise by selling scrap gold, traders said.
"There is no demand, but there is scrap coming in," said Prithviraj Kothari, director with Riddhisiddhi Bullions in Mumbai.
Gold futures on the continuation chart MAUc1 on the Multi Commodity Exchange touched a high of 14,407 rupees per 10 grams at 2:14 p.m.
The price gap between the local gold and bank gold widened due to lack of demand and profit taking by investors.
Traders said consumers took advantage of near-record prices by selling scrap gold, thereby limiting demand for new bars.
Buyers are awaiting a fall to purchase gold bars, said Kishore Zaveri, director, Zaveri and Co. in Ahmedabad, a retail gold jeweller.
Following were the prices being quoted by HDFC Bank in rupees in the spot market at 1:15 p.m. INBULL03:
