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RTRS: India gold prices flat; demand turns weak
 
India gold prices were flat on Tuesday but demand turned weak as well-stocked buyers awaited dips, dealers and traders said.

"Demand is very dull, I haven't been able to sell much since morning," said Pinakin Vyas, chief manager-treasury, IndusInd Bank, Mumbai.

"There are enquiring... but nothing is materialising," Vyas said.

The most traded June contract was 0.10 percent higher at 14,584 rupees per 10 grams at 1:36 p.m.

Overseas gold, which guides the local market, was steady on Tuesday as the dollar slipped and equity markets fell, with investors cautious about an economic recovery.

Dealers said a dip towards $900 could rekindle buying interest amid the wedding season, which lasts till June end.

"I have many orders in the range of $900-905 (an ounce)," said a dealer with a state-run bank.

"A dip to $890 (an ounce) could bring in bouts of buying," said Daman Prakash, director with Chennai-based MNC Bullion.

Source