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RTRS: UPDATE 1-India gold traders await bigger falls
 
(Updates to trends in the physical market)

* Spot gold down at $955.05 an ounce XAU=

* London Brent crude up at $73.71 a barrel LCOc1

* Rupee strong at 47.81 per dollar INR=IN

* U.S. July employment trend index 1400 GMT [MI/DIARY]

MUMBAI, Aug 10 (Reuters) - India gold demand stayed weak on Monday as traders awaited bigger fall in prices to re-stock ahead of festival demand, even as banks, the primary sellers of gold, re-opened after two days of strike, dealers said.

"I have only done a couple of deals since morning. Even a strong rupee is not supporting local demand," said Pinakin Vyas, chief manager-treasury, IndusInd Bank.

"They are just enquiring not striking any deals," said another dealer with a state-run bank.

"Keeping in view the festivals, traders would be interested if gold corrects by 150 (rupees) more," he added.

The most-traded October contract MAUV9 was 0.20 percent lower at 14,838 rupees at 1:55 p.m., helped by a strong rupee, which makes the dollar-quoted metal cheaper.

"Market is looking at around $946 (an ounce) to enter," said IndusInd's Vyas.

Indian state bank employees struck work for two days on Thursday and Friday last week demanding higher wages and pension.

Following were the prices being quoted by HDFC Bank in rupees in the spot market at 1:15 p.m. INBULL03:

Monday Friday

================================================

Gold .999/10 grams 14,987 15,100

Silver .999/kg 24,440 24,379

Following were prices in rupees on the Multi Commodity Exchange of India Ltd. at 1:55 p.m. <0#MAU:>:

Contract Current price Net change

======================================================

Oct gold 14,844 -24

Sept silver 23,191 -195

(Reporting by Siddesh Mayenkar; Editing by Ramya Venugopal)

Source