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India's gold demand is expected to revive if prices fall by atleast 10.5 percent from the current levels, a top official at ScotiaMocatta said on Monday.
Demand would revive "if prices come anywhere between 14,000-14,300 (rupees levels)," said Rajan Venkatesh, managing director, India bullion, ScotiaMocatta, on the sidelines of a conference.
At 1:15 p.m., Scotia Bank quoted gold at 15,470 rupees per 10 grams.
"There will always be some demand," said Venkatesh, commenting on the current demand situation.
India's gold imports stood near 1.9 in January but there were hardly any imports in the following month as price-sensitive buyers stayed away from making fresh purchases, according to Bombay Bullion Association (BBA).
India's imports fell to around 395.8 tonnes last year compared with 759 tonnes in the year-ago period, according to data from BBA.
