Gold Trading - 11 JUN 2009

Last night trading,

Im waiting to buy again when
price fall at low 942.10

My Target TP At 962.08
But Im close manually with 1800Pips

Thu, Jun 11 02:44 PM

India's gold buying remained slow on Thursday, with well-stocked traders unwilling to enter into fresh deals as the wedding season nears its end, dealers said.
Domestic prices edged higher tracking a weak rupee, that makes the dollar denominated asset expensive.
The most active August contract was 0.34 percent higher at 14,644 rupees per 10 grams at 2:10 p.m.
"It (gold buying) has slowed down a lot. Traders have enough stock to meet demand and even weddings are almost over," said a dealer with a private bank in Mumbai.
"There are stray enquiries, but no one is committing," said another dealer at a state-run bank.
The Indian rupee extended its fall in afternoon trade tracking losses of more than 1 percent in domestic stocks with lower Asian units also adding to the bearishness.
Dealers said there could be intermittent buying if prices fall by around 5 percent from current levels.
"Interest could come in at around 14,000 rupees" said the dealer at the state-run bank.

(For more news on Reuters Money click http://in.reuters.com/money)