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Money News

India gold buyers stay away as prices rise

A woman holds gold bangles at a jewellery shop in Kolkata in this October 2009 file photo. REUTERS/Jayanta Shaw

MUMBAI (Reuters) - India physical gold buyers stayed away on Friday, as some demand in the previous session pushed prices about 2 percent higher, dealers said.

“Buying is very price sensitive this time..there is demand but people are very cautious,” said a dealer at a private bank, which deals in bullion.

International gold rose back towards $1,100 an ounce in Europe on Friday as news that European Union leaders had agreed a plan to aid debt-laden Greece lifted the euro and appetite for assets seen as higher risk, such as commodities.

(Reporting by Sourav Mishra; Editing by Sunil Nair)

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