* London Brent crude down at $79.15 a barrel LCOc1
* Rupee weak at 46.59 per dollar INR=IN
* U.S. weekly jobless claims 1330 GMT [MI/DIARY]
MUMBAI, Nov 19 (Reuters) - India gold prices retreated from record highs on Thursday triggering a slight pick-up in physcial offtake, but a weaker rupee weighed on sentiment, restricting a further downside in the yellow metal, dealers said.
"There were a few trades with decent quantity, but it is not as per our expectations as the weak rupee is hindering the extent of the fall (in prices)," said Pinakin Vyas, chief manager treasury, IndudInd Bank in Mumbai.
"Markets would get activated at 15,500-15,800 rupees," said Vyas.
The most-traded December gold contract MAUZ9 was 0.05 percent higher at 17,114 rupees per 10 grams at 3:42 p.m., after hitting a high of 17,197 rupees earlier.
The contract had struck a record high of 17,236 rupees on Wednesday.
A weaker rupee, which makes the dollar-quoted asset expensive, kept the downside limited in gold.
The Indian rupee fell as a weaker sharemarket, gains in the dollar and concerns authorities may start looking at steps to temper surging capital inflows weighed on sentiment. [INR/]
"There are a few orders below $1,100 (an ounce)," said another dealer with a state-run bank.
Following were the prices being quoted by HDFC Bank in rupees in the spot market at 1:15 p.m. INBULL03:
Thursday Wednesday
Gold .999/10 grams 17,435 17,360
Silver .999/kg 29,800 29,715
Following were prices in rupees on the Multi Commodity Exchange of India Ltd. at 3:43 p.m. <0#MAU:>:
Contract Current price Net change
Dec gold 17,113 +8
Dec silver 28,057 -170
(Reporting by Siddesh Mayenkar; Editing by Sunil Nair)
