Golden Investment Research (P) Ltd
Gold demand edges up as rupee strengthens
Gold demand in India, the world's buyer of bullion, edged up as a stronger rupee made the dollar-quoted yellow metal cheaper.
* The most-active gold for February deli
Very on the Multi Commodity Exchange (MCX) was 0.06% lower at Rs 28,065 per 10 grams, after hitting a low of Rs 27,997 earlier.
* "Demand is pretty good as rupee is favouring," said a dealer with a private gold importing bank in Mumbai.
* The Indian rupee, which rose past 49 to the dollar in early trading, plays an important role in determining the landed cost of the yellow metal.
* The wedding season is under way in India and will last till May. There are a few festivals also during this period.
* Silver for March delivery on the MCX was down 0.49% lower at Rs 56,555 per kg.
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