MUMBAI: Gold futures were steady on Friday afternoon following overseas markets, but demand stayed weak due to the seasonally lean buying period, dealers said.
* The most-active gold for August delivery on the Multi Commodity Exchange (MCX) was trading 0.21 percent higher at 22,636 rupees per 10 grams at 1:04 p.m.
* Overseas spot gold was steady, underpinned by debt crisis in the Euro zone, though a stronger dollar weighed.
* The monsoon period is a seasonally slack one for gold demand and dealers expect traders to replenish stocks from September, when festivals and weddings re-start.
* A strong rupee weighed on sentiment. The rupee plays an important role in determining the landed cost of the yellow metal, which is quoted in dollars.
