MUMBAI (Reuters) - India gold physical offtake abated on Tuesday as prices resumed their upward trend, after a modest pick-up in the last few sessions, when traders stocked in anticipation of wedding demand, dealers said.
"Demand has come down again... we did a few deals yesterday and on Friday," said a dealer with a state-run bullion dealing bank in Mumbai.
"People are saying they'll buy when prices come down to $1,170-1,175 (an ounce)," said another dealer with a private bank.
The most-traded February contract edged higher, helped by a weaker dollar, and was trading 0.99 percent higher at 17,893 rupees per 10 grams at 2:21 p.m.
However a strong rupee, which makes the dollar-quoted asset cheaper, aided sentiment, they added.
The rupee at 46.33/34 per dollar, from its previous close of 46.50/52, following the dollar's decline against major currencies and helped by gains in domestic shares. [INR/]
India's wedding season will continue till December-end.
(Reporting by Siddesh Mayenkar; Editing by Sunil Nair)
