MUMBAI (Reuters) - Gold traders in India, the world's biggest buyer of bullion, preferred to stay on the sidelines on Wednesday as they waited for a bigger fall in prices due to a rise in the rupee, dealers said.
* The most-active gold for February delivery on the Multi Commodity Exchange (MCX) was 0.45 percent lower at 27,261 rupees per 10 grams. The yellow metal prices have gained more than 5 percent since October.
* "Sales have halted as prices have edged higher, they might restart purchases at 27,000 rupees," said Harshad Ajmera, proprietor at JJ Gold House in Kolkata.
* India imports about 800-900 tonnes of gold annually and a stronger rupee makes the imports cheaper.
* Silver extended the previous session's losses after touching its highest level in more than a month on Monday, on some profit booking.
* The most-active silver for March delivery on the MCX was 0.37 percent 55,158 rupees per kg. The contract had hit 56,490 rupees on Monday, a level last seen in mid-December.
* "Investors are selling in the market, customers (buyers) are waiting for 52,000 rupees," said Ajmera.
(Reporting by Siddesh Mayenkar; Editing by Aradhana Aravindan)
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