MUMBAI: Gold traders in India, the world's biggest buyer, refrained from taking new positions as prices hit the highest level in more than six weeks, tracking a similar trend in global markets. The most-active gold for February delivery on the Multi Commodity Exchange (MCX) rose as much as 28,175 rupees, the highest level in six weeks, before giving up some gains to trade at 28,148 rupees. "Demand is still zero and market will remain bad in days to come due to higher prices," said Haresh Acharya, head of bullion desk, Parker Bullion, a gold wholesaler. Global gold ticked up after the euro recouped some losses, with prices heading for their biggest monthly rise since August. A stronger rupee kept a lid on gains. The rupee plays an important role in determining the landed cost of the dollar-denominated yellow metal. Currently, the wedding season is underway in India and will last till May. A few festivals will also take place during this period. Silver futures also extended gains. The white metal contract for March delivery on the MCX was trading 0.34 percent higher at 57,185 rupees per kg. At 10:15 a.m, the following were prices in rupees being quoted by HDFC Bank in the spot market.

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