MUMBAI (Reuters) - India's spot gold prices fell on Tuesday afternoon in the absence of buyers due to higher prices, dealers said.
Spot gold prices rose in the previous session after having fallen over 2 percent last week.
"Yesterday, there was some buying at dips...now prices are above 17,000 rupees (per 10 gm) so buyers are absent again," said a dealer with a private bank based in Mumbai.
Dealers, however, said the Hindu wedding season, which will last till December-end, will prevent a major fall in prices.
India expects a jump in December gold imports to meet the demand.
India's December gold imports are likely to spurt to 15-20 tonnes from 3 tonnes a year earlier, mainly on the back of the wedding season demand and easing prices, the head of the Bombay Bullion Association (BBA) said in an interview on Dec. 9.
International gold firmed in Europe on Tuesday, lifting off a 6-½ week low hit in the previous session, due to a weaker dollar and physical buying.
Analysts said gold could test lows in the near term after breaking through $1,100 an ounce, as investors close positions before the end of the year, but their appetite to buy bullion on dips would support the market.
(Reporting by Sourav Mishra; Editing by Sunil Nair)
