RTRS:India gold near 2-mth high, traders defer buying
(Reuters) - Indian gold buyers refrained from taking fresh positions on Thursday as prices hovered near their highest level in two months on firm global markets and a weaker rupee, analysts said.
* The most-active gold for April delivery on the Multi Commodity Exchange (MCX) was 0.38 percent higher at 28,283 rupees per 10 grams, after hitting 28,365 rupees, nearing the 28,434 level touched in mid-December.
* "Demand is still subdued.... prices are slightly higher than comfort zone," said a dealer with a gold importing private bank in Mumbai.
* The rupee, which weakened on Thursday, plays an important role in determining the landed cost of the dollar-quoted yellow metal.
* Global gold edged higher, buoyed by a euro strengthened by hopes Greece was moving closer to a bailout deal, and surprisingly strong China inflation also supported sentiment.
* Silver for March delivery on the MCX was 0.28 percent higher at 56,978 rupees per kg.
(Reporting by Siddesh Mayenkar; Editing by Aradhana Aravindan)
