RTRS:India gold traders at bay as prices stick near high
(Reuters) - Gold traders in India, the world's biggest buyer of bullion, stayed on the sidelines as prices held near their highest level in nearly a week, dealers said.
* The most-active gold for February delivery on the Multi Commodity Exchange (MCX) was 0.24 percent lower at 27,444 rupees per 10 grams, not far from the previous day's one week high of 27,594 rupees, a level last seen on January 18.
* "Demand is quiet poor as there hasn't been much correction in prices," said Mayank Khemka, managing director, Khemka group, a Delhi-based gold wholesaler.
* Harvesting festivals in India started on January 15, when rural demand, which accounts for 70 percent of imports, for the yellow metal goes up. Weddings also happen during this period.
* Silver prices extended gains for a fourth session in a row.
* Silver for March delivery on the MCX 0.66 percent higher at 55,929 rupees per kg.
(Reporting by Siddesh Mayenkar; Editing by Harish Nambiar)
