<p>"There was good buying for over 3-4 days, but sales are lagging as prices crossed $1,200 (an ounce)," said a dealer with a state-run bullion dealing bank in Mumbai.</p>.<p> International gold was trading at $1,202.65/1,203.15 an ounce as against the previous close of 1,201.85/1,202.85, recovering from a six-week low of $1,185.05 struck on Wednesday.</p>.<p> "There could be more buying if prices move to $1,190 an ounce," said another dealer with a private bank.</p>.<p> However, a strong rupee, which makes the dollar-quoted asset cheaper, kept the upside limited for domestic prices.</p>.<p> The Indian rupee rose, supported by a rise in local share prices and the euro's strength overseas triggered dollar-selling from exporters. [INR/]</p>.<p> Traders have been stocking the yellow metal for the upcoming festivals, when demand for bullion goes up.</p>.<p> India, which accounts for more than 20 percent of global demand, will celebrate the Hindu festival of Raksha Bandhan on Aug 24, and Janmasthami and Ganesh Chaturthi in September. </p>
<p>"There was good buying for over 3-4 days, but sales are lagging as prices crossed $1,200 (an ounce)," said a dealer with a state-run bullion dealing bank in Mumbai.</p>.<p> International gold was trading at $1,202.65/1,203.15 an ounce as against the previous close of 1,201.85/1,202.85, recovering from a six-week low of $1,185.05 struck on Wednesday.</p>.<p> "There could be more buying if prices move to $1,190 an ounce," said another dealer with a private bank.</p>.<p> However, a strong rupee, which makes the dollar-quoted asset cheaper, kept the upside limited for domestic prices.</p>.<p> The Indian rupee rose, supported by a rise in local share prices and the euro's strength overseas triggered dollar-selling from exporters. [INR/]</p>.<p> Traders have been stocking the yellow metal for the upcoming festivals, when demand for bullion goes up.</p>.<p> India, which accounts for more than 20 percent of global demand, will celebrate the Hindu festival of Raksha Bandhan on Aug 24, and Janmasthami and Ganesh Chaturthi in September. </p>