MUMBAI: Gold was a tad lower, easing from its highest level in a week in step with overseas markets, where a strong dollar weighed on the yellow metal, but physical traders awaited for falls before stocking for the ongoing wedding season. The most-active gold for June delivery on the Multi Commodity Exchange ( MCX )) was 0.37 percent lower at 21,840 rupees per 10 grams at 2:07 p.m., easing from a high of 22,280 rupees struck the previous session, a level last seen on May 4. "Today, deals are a bit on the lower side... I have many orders below 21,000 rupees," said a dealer with a state-run, bullion-importing bank in Mumbai. Overseas gold surrendered early gains and shed more than half a percent, echoing a broad sell-off in other commodities, as investors also took advantage of a stronger dollar to book profits on this week's gains. Although a weaker rupee kept the downside in prices limited in the local market, dealers said. The rupee plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars. The Indian rupee fell tracking weak local shares and the euro's losses against the dollar, but hopes of robust dollar inflows towards a state-run firm share sale are seen supporting. Wedding season will continue through May in India, the world's largest consumer of bullion.

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