Well so much for consistency of the press ... I just read the following article on a reuters posting link from Kitco.com

http://in.reuters.com/article/busine...

MUMBAI (Reuters) - Indian demand for gold was restrained on Monday with prices hovering around year's highs but festivals and weddings nudged consumers to shop, dealers said.

Banks said there was hardly any demand for their gold, while wholesalers said most local demand was being met through recycled metal.

"There is just a little bit of demand," said Omprakash Dhawani of Ravi Bullion & Jewellers Pvt. Ltd. in Indore. "People are making do with selling off their old jewellery to buy new."

Dhawani said his sales were about 10-15 percent of last year this time, ahead of crucial festivals of Dhanteras and Diwali, and weddings in the current season considered auspicious.

Another wholesaler in New Delhi, Ashok Gupta of Ganpati Traders said shopkeepers were reluctant to stock up at current prices but could buy at any dip.

Due to the scrap sales, local markets were running at a discount to bank prices that usually follow overseas prices.

Dhawani said in Indore gold was being quoted at 10,280 rupees per 10 grams.

Overseas gold eased after its 28-year high of $807.70 an ounce logged on Friday, a rally which also saw it break the crucial $800 an ounce level.

A weaker dollar and bullish fundamentals for gold are continuing to fuel the metal upwards. Continued...