India gold futures prices edged lower on Tuesday tracking weak international markets, but traders stayed away from the local spot market due to unaffordable prices, dealers said.
The most active June contract MAUM9 was 0.17 percent lower at 14,563 rupees per 10 grams at 3:53 p.m.
Gold eased in Europe on Tuesday as the dollar recovered from the lows it hit late last week versus a basket of currencies, curbing interest in the metal as an alternative asset. See [ID:nLQ684638]
"Futures prices are down just a little but spot continues to stay high..this is not going to attract demand," said a dealer with a private bank.
"Besides, a weak rupee will continue to support prices," he said.
