(Reuters) - India wholesale gold traders snapped up bargains as prices hit their lowest level in six weeks, restocking for a second round of festivals starting August, dealers said. "Southern centres like Chennai, Coimbatore and Kochi are more active than north, we are sufficiently stocked" in case of a surge in demand, said a dealer with a state-run bullion-dealing bank in Mumbai. International gold was trading at $1,189.55/1,190.05 an ounce as against the previous close of $1,191.50/1,195.50 after hitting a low of $1,186.95, a level last seen on May 25. "We may have priced in for at least 100 kgs today morning," said another dealer with a private bank. India, which accounts for more than 20 percent of global demand, will celebrate the Hindu festival of Raksha Bandhan on Aug 24, Janmasthami and Ganesh Chaturthi in September. However, a weak rupee, which made the dollar-quoted asset expensive, weighed on sentiment. The rupee fell to its lowest in nearly a month, weighed down by a wobbly stock market and the dollar's strength overseas. (Reporting by Siddesh Mayenkar; Editing by Ramya Venugopal)

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