India gold reversed early gains on Friday tracking overseas prices but buyers stayed away, opting to wait for lower prices, traders said. "I haven't sold a single gram of gold or silver during the last 10 days," said Daman Prakash, director with Chennai-based MNC Bullion. But traders concurred that local gold was available cheaper than bank gold. "Disparity has widened to 400 rupees today between bank and local gold." said Mayank Khemka, managing director with Delhi-based Khemka International, adding "more sellers would come in at high prices." The benchmark April gold contract was 0.09 percent lower at 15,280 rupees per 10 grams at 2:14 p.m., after gaining more than 2 percent in the previous two sessions. Comex gold for April delivery was 0.19 percent lower at $922.2 an ounce. Traders said underlying demand is strong as the festival season would last till May. "People would be interested in if prices come below 14,000," said Khemka, adding "major interest would come in below 13,000."

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