<p> Gold demand in India, the world's biggest buyer of the metal, was weak on Monday due to year-end, and as prices nudged higher following gains in the world market.<br /><br /></p>.<p>The actively traded gold contract for February delivery on the Multi Commodity Exchange (MCX) was 0.17 per cent higher at Rs 30,748 per 10 gm as of 3:25 pm.<br /><br />"Buying is very thin. People are busy with New Year celebration plans. Jewellers are also not active in the market," said a Mumbai-based dealer with a state-run bank.<br /><br />"For the last few days prices are moving in a narrow-range. Breakout is needed on either side to attract buyers."<br /><br />The rupee, which rose on Monday, plays an important role in determining the landed cost of the dollar-quoted yellow metal.<br /><br />Overseas gold ticked up to around $1,663 an ounce and was on track for a twelfth straight annual gain, although wary investors stayed on the sidelines as last-ditch attempts to resolve a US fiscal crisis seemed to be getting nowhere.<br /><br />The March silver contract on the MCX rose 0.24 per cent to Rs 57,801 per kg.</p>
<p> Gold demand in India, the world's biggest buyer of the metal, was weak on Monday due to year-end, and as prices nudged higher following gains in the world market.<br /><br /></p>.<p>The actively traded gold contract for February delivery on the Multi Commodity Exchange (MCX) was 0.17 per cent higher at Rs 30,748 per 10 gm as of 3:25 pm.<br /><br />"Buying is very thin. People are busy with New Year celebration plans. Jewellers are also not active in the market," said a Mumbai-based dealer with a state-run bank.<br /><br />"For the last few days prices are moving in a narrow-range. Breakout is needed on either side to attract buyers."<br /><br />The rupee, which rose on Monday, plays an important role in determining the landed cost of the dollar-quoted yellow metal.<br /><br />Overseas gold ticked up to around $1,663 an ounce and was on track for a twelfth straight annual gain, although wary investors stayed on the sidelines as last-ditch attempts to resolve a US fiscal crisis seemed to be getting nowhere.<br /><br />The March silver contract on the MCX rose 0.24 per cent to Rs 57,801 per kg.</p>