MUMBAI: India gold buying retreated from the previous session's pick-up as the rupee weakened, making the dollar-quoted yellow metal expensive and as traders sought a further fall in prices, dealers said. "Nothing much today... we did some deals on Friday, when prices were at $1,205/1,215 an ounce," said a dealer with a state-run bullion dealing bank in Mumbai, adding "even the rupee is not in supportive mode." The Indian rupee weakened as concerns rose over the eurozone growth prospects and its impact on the world economy after Spain's downgrade. International gold, which guides the domestic markets, was trading at $1,213.35/1,214.15 an ounce as against the previous close of $1,212.75/1,216.75 an ounce. "Either rupee will have to go below 46, or prices need to fall below 1,200, for buying to pick-up again," said another dealer with a private bullion-dealing bank.

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