(Reuters) - Physical gold traders in India took to the sidelines on Friday as prices recovered partially from their lowest level in a month, in line with overseas markets. However, a firm rupee kept the lid on gains.
* At 1:40 p.m., the most-active gold for August delivery on the Multi Commodity Exchange (MCX) was 0.18 percent higher at 29,274 rupees per 10 grams, recovering form the previous session's low of 29,161 rupees, a level last seen on June 8.
* "There is not much demand... if there is a good price correction at 28,500 (rupees), we can see demand coming in," said Ketan Shroff, director, Pushpak Bullion, a wholesaler in Mumbai.
* COMEX gold was 0.71 percent higher at $1,576.4 an ounce.
* A firm rupee kept the upside in prices limited. The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal.
* Silver for September delivery on the MCX was 0.16 percent higher at 53,100 rupees per kg.
* At 1:15 p.m., following were the prices in rupees quoted by HDFC Bank in the spot market :
Friday Thursday
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Gold .999/10 grams 29,420 29,383
Silver .999/kg 53,830 52,835
At 1:23 p.m., following were the prices in rupees on the Multi Commodity Exchange of India Ltd <0#MAU:>:
Contract Current price Net change
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Aug gold 29,270 +48
Sept silver 53,119 +102 (Reporting by Siddesh Mayenkar; Editing by Jijo Jacob)
