MUMBAI: India gold futures eased a tad on Thursday, snapping a eight-day winning streak, following a weak overseas market, although a weaker rupee kept the downside limited, analysts said.
* Physical buyers were still on the sidelines hoping for bigger falls in a seasonally lean demand period.
* The most-active gold for August delivery on the Multi Commodity Exchange (MCX) was trading 0.25 percent lower at 22,680 rupees per 10 grams, after the yellow metal gained more than a percent in the previous eight sessions.
* Overseas gold fell, snapping a four-day winning streak, as the dollar gained after the Federal Reserve gave no hint of further stimulus, but gold priced in sterling hit a record high as the British currency sagged on the possibility of more easing.
* The Indian rupee weakened, tracking Asian peers and the euro's losses against the greenback, but traders expect dollar selling by exporters to limit the losses.
* "Business is very dull," said Daman Prakash Rathod , director with Chennai-based MNC Bullion, adding farmers were concentrating more on sowing operations.
* Silver buying also slowed to a trickle as traders were unwilling to deal in the white metal after a 20 percent fall in May.
* Imports of silver into India, the world's biggest buyer, in May tumbled by a third to 200 tonnes from April as buying interest tapered off after prices declined 20 percent, a trade body head told Reuters. See
* "Many have gone long at 70,000-74,000 (rupees per kg) and feel crestfallen. They don't have guts to deal in silver," said Rathod.
