MUMBAI (Reuters) - A stronger rupee at its highest level in five weeks pushed gold futures to its lowest in more than a week, spurring jewellers to stock up for weddings, dealers said on Friday.
* The most-active gold for February delivery on the Multi Commodity Exchange (MCX) was down 0.51 percent at 27,524 rupees per 10 grams, after hitting a low of 27,445 rupees, a level last seen on January 3.
* Gold traders continued to stock unabated as jewellers prepared for the weddings later in the week.
* "Gold buying is there as marriage season will re-start tomorrow, prices are still in a range and will continue to do so," said a dealer with a state-run bullion dealing bank in Mumbai.
* India's wedding season will start on January 15 and continue until April, after pausing for a few weeks deemed inauspicious for nuptials.
* Physical trade in volatile silver was quiet as traders awaited further falls in prices.
* "Silver market is quiet...people are scared booking positions after seeing a level of 48,000 rupees," said Haresh Kewalramani, proprietor of Vishindas Gianchand & Sons, a large silver trader.
* Silver for March delivery on the MCX was down 0.60 percent 52,456 rupees per kg. The price level of 48,000 was last seen on December 29.
(Reporting by Siddesh Mayenkar; Editing by Harish Nambiar)
( Enjoy Moneycontrol.com on iPad and be prepared for a fantastic experience. Get real time stock quotes, interactive charts, market buzz, and watch CNBC-TV18, CNBC Awaaz live on your iPad. Check out the free moneycontrol app. Click here to download now )
