As gold prices soar, Indian buyers hold back

Global price disruptions will keep Indians, the world's biggest gold buyers, away from jewellery stores for at least the next few weeks until demand is likely to rise with the onset of the traditional festival and wedding seasons.

Zaveri Bazaar, India's biggest bullion market in the financial hub Mumbai, drew only a trickle of buyers on Monday as the country's benchmark gold futures hit a new peak.

Gold prices in India have gained 21 percent so far this year.

Text : Krittivas Mukherjee and Siddesh Mayenkar, Reuters

Images: Reuters