MUMBAI: India's spot gold prices were almost steady on Monday as the absence of primary dealers and buyers reduced trading activity, "Today there is almost no trade happening at retailer level" said a wholesaler in Mumbai.
On Monday banks, primary dealers of gold remained closed on the occasion of Muharram.
India's gold futures were slightly higher on Monday tracking international cues, analysts said.
The benchmark February gold on the MCX was at 16,881 rupees per 10 grams, up 0.34 per cent, at 3:53 pm.
International gold inched higher on Monday, helped by a recovery trend in the euro against the dollar, but trade was light as many investors stayed on the sidelines with U.S. and European markets closed since late last week for Christmas.
Bombay Bullion Association, an association of retailers and wholesalers on Monday quoted spot prices for .999 purity at 16,965 rupees per 10 gm.
