MUMBAI: Gold futures eased on Monday afternoon following losses in the overseas markets, and demand in local spot market remained weak as the lean season gets underway, dealers said.
* At 3:23 p.m., the most-active gold for August delivery on the Multi Commodity Exchange (MCX) was down 0.36 percent to 22,463 rupees per 10 grams.
* "Traditionally it is a lean season. We can see some improvement in demand only in July or if prices drop sharply. Jewellers, investors are not interested in buying at current level," said a Mumbai-based dealer with a private bank dealing in bullion.
* International spot gold gave up early gains on Monday despite a rebound in the euro against the U.S. dollar, lacking impetus to surpass recent peaks and sustain an uptrend fuelled largely by a debt crisis in Europe.
* The Indian rupee, which has a bearing on the landed cost of dollar-quoted gold, was at 44.87/88 per dollar, weaker than its previous close of 44.72/73 per dollar, tailing weak Asian currencies.
