| Mumbai: India gold buying cooled off on Monday after picking up slightly in the previous week as prices struck a fresh record high and the flow of scrap eased, dealers said."Buying is negligible compared to the regular daily volumes," said a dealer with a state-run bullion dealing bank in Mumbai.The most-traded December contract hit an all-time high of Rs17,534 per 10 grams and was trading 0.64% higher at Rs17,501 at 3:01pm.Buyers are comfortable only upto Rs17,200 level, said the dealer.Dealers said the flow of scrap has slowed as sellers sought higher prices."The flow has slowed despite record high prices, I may end-up collecting 3 kgs till the end of the day," said Jitendra Kantilal, partner Jugraj Kantilal & Co., a gold scrap dealer in Mumbai, which offered to buy scrap at Rs17,700. |
